Far West

Veteran banker Diane Cummings has been appointed chief credit officer at the California Infrastructure and Economic Development Bank.

With workforce reductions and lower gas tax revenues, the Oregon Department of Transportation will be challenged, according to a recent audit.

Moody's Investors Service has lowered its ratings on $8.5 billion of state and transit agency stand-alone grant anticipation revenue vehicle bonds supported by dwindling revenues from the Highway Trust Fund.

C.M. de Crinis, a Glendale, Calif. based financial advisory firm, hired veteran public finance banker Richard Kiss to cover Northern California. Kiss said the move was prompted by changes to municipal advisor regulations.

The House Appropriations Committee has unveiled a fiscal year 2015 bill that would fund the Securities and Exchange Commission at $1.4 billion - $50 million above the fiscal year 2014 level and $300 million below President Obama's budget request.

The California legislature approved a budget ahead of the constitutional deadline for the fourth year in a row.

Rating agencies and others said that draft standards, which among other things urge states and local governments to disclose their net or total other post-employment benefit liabilities on the face of their financial statements, would be helpful and provide more transparency.

Maui County secured Double-A ratings on Friday from two rating agencies and a stable outlook ahead of plans to sell $75.5 million in GO bonds competitively on June 25.

Moody's Investors Service deemed a California Superior Court judge's ruling that existing teacher tenure and seniority laws are unconstitutional a credit positive.

Foreign equity investment interest in U.S. public-private partnerships at all-time level, a House P3 panel was told.