Far West

Long-term public municipal issuance volume reached $71.8 billion, down by 13.6% from the previous quarter, but up by 5.2% from a year ago, according to the third-quarter Municipal Credit Report by Securities Industry and Financial Markets Association Thursday.

The San Francisco Metropolitan Transportation Agency's revenue bond rating has been upgraded to Aa2 from Aa3 based on positive financial operations.

The Securities and Exchange Commission has charged Allen Park, Mich., and two former city leaders with fraud in connection with a municipal bond offering to support a movie studio project within the city.

California Gov. Jerry Brown easily won re-election while persuading voters to approve two ballot measures with municipal market implications.

Incumbent Nevada Gov. Brian Sandoval led a sweep of top state offices that resulted in Republicans taking control of the state Assembly and Senate.

Standard & Poor's upgraded California GO bonds to A-plus from A Wednesday, citing voter approval of a rainy-day-fund ballot measure.

San Bernardino voters decided the city should continue to determine police and firefighter pay by a charter formula that effectively ratchets up their pay.

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.