Far West

Moody's Investors Service has revised its outlook on Aaa-rated Alaska to negative from stable as plunging oil prices threaten to reduce the state's budgetary reserve.

The National Association of Municipal Advisors is urging the Securities and Exchange Commission to create exemptions from broker-dealer and investment adviser registration for MA firms engaged in activities understood to be normal municipal advisory services.

California's severe drought will cost the state billions of dollars for 2014, but its economy is still doing well, according to municipal analysts at Bank of America Merrill Lynch.

An expectation that Nevada will use reserves to bridge a budget shortfall means a step backward for the state at a time when other states are building reserves, according to a Moody's Investors Service credit outlook.

Strong financial management combined with a growing tax base, diverse economy, and growing reserves have placed Los Angeles in a position to strengthen its credit profile, Moody's Investors Service analysts said.

The Financial Industry Regulatory Authority has fined two firms a total of $7,500 for violations of Municipal Securities Rulemaking Board rules, FINRA said in its monthly disciplinary report Monday.

New York's MTA seeks up to $300 million in federal funding for infrastructure improvements for the L subway line to account for a spike in ridership.

Stockton, Calif. received approval of its bankruptcy plan in October, but it continues to face challenges from its holdout creditor, Franklin Advisors.

The state of Alaska recently lowered its revenue forecast due to declining oil prices, with no immediate impact on its credit rating, according to Fitch Ratings.

The House late Thursday passed a spending bill known as the "cromnibus" that would fund most federal government agencies through the end of the federal fiscal year.