Far West

California's water utility sector is maintaining a strong credit profile, despite pressures from the state's ongoing drought, according to market participants.

The judge in the Stockton, Calif. bankruptcy case has ruled that a city in Chapter 9 bankruptcy has the power to adjust California Public Employees' Retirement System pensions.

The California Debt and Investment Advisory Commission is conducting an analysis of bond disclosure information provided by conduit borrowers including nonprofit hospitals when significant events occur.

Hawaii judge rules that Hawaii House of Representatives has jurisdiction over residency of legislators, not court, in ruling dismissing lawsuit challenging Hawaii Rep. Calvin Say's residency.

The U.S. District Court for the District of Columbia has dismissed a challenge to the investment advisers pay-to-play rule, ruling that it lacks jurisdiction to hear the case.

Failure by Congress to develop a long-term transportation bill early next year could mean another highway funding crisis in a few months.

Moody's Investors Service has upgraded the California College of the Arts ahead of a private placement planned later this month.

The District of Columbia is planning to price roughly $523 million of general obligation bonds next week and “strong demand” is expected both because of improved ratings and the fact that it’s been awhile since D.C. issued long-term, fixed rate GOs, said D.C. Deputy Chief Financial Officer and Treasurer Jeffrey Barnette.

States are having trouble forecasting tax revenue largely because of increasing volatility in their revenues, according to a report released by the Nelson A. Rockefeller Institute of Government on Tuesday.

Securities and Exchange Commission member Michael Piwowar said Tuesday that it isn't clear if implementing a uniform fiduciary standard of conduct for broker-dealers and investment advisers providing personalized investment advice about securities would benefit retail investors.