Far West

Moody's Investors Service said the outcome of Stockton, Calif.'s bankruptcy confirmation hearing is a credit positive for the California Public Employees Retirement System since pension obligations were unimpaired.

Republicans won enough races in Tuesday's midterm elections to gain control of the Senate - the first time they've controlled both chambers in eight years. At least two Senators who have sponsored bills relating to bonds and state and local finance during the last two years lost their reelection bids.

Former Miami, Fla. budget director Michael Boudreaux is seeking a rehearing before a full federal court of appeals after a three-judge panel earlier this year denied his claim of immunity from a Securities and Exchange Commission lawsuit.

Tennessee has deferred $400 million of highway projects until 2016 because of concerns the Highway Trust Fund will be insolvent again in May.

U.S. President Barack Obama signed a Disaster Declaration for Public Assistance on Nov. 3 to provide financial aid to the small Hawaii town of Pahoa threatened by a slow-moving lava flow.

Charter school giant KIPP School's announcement that it would more than double its Los Angeles enrolment by 2020 is a credit negative for Los Angeles Unified School District, according to Moody's Investors Service.

Debate over who would benefit from a Hawaii constitutional amendment expanding the definition of special purpose revenue bonds originally aimed at preserving agricultural land has heated up in the final weeks leading up to the election.

The Securities and Exchange Commission today sanctioned 13 firms for improperly selling Puerto Rico bonds in denominations below a $100,000 minimum denomination set in a $3.5 billion offering earlier this year.

Spokane, Wash.'s airport has been downgraded to A2 from A2 by Moody's Investors Service.

While the judge's ruling in Stockton, Calif.'s bankruptcy case did not provide a precedent for dealing with pension obligations in Chapter 9, it did provide a "roadmap" for other municipalities that may want to cut pensions, one expert said.