Far West

The Securities Industry and Financial Markets Association will help large issuers of municipal bonds pressure the Securities and Exchange Commission for a sophisticated issuer exemption from its municipal advisor rule, and will also request another delay in the rule's effective date if more guidance is not available soon.

Fitch Ratings upgraded to BBB $71.3 million in revenue bonds issued by the Hawaii Department of Budget & Finance for a 392-unit retirement community and revised the outlook to stable from positive.

The state of Oregon is planning to sell $68 million of tax-exempt and taxable bonds next week to finance capital projects at state universities.

The Government Finance Officers Association has released model language for issuer officials to use when interracting with broker-dealers and other entities under the municipal advisor rule.

The confirmation hearing to determine if Stockton can emerge from bankruptcy will go into a fifth day, on June 4, to allow more time to hear arguments, according to the case judge.

The District of Columbia will become the first jurisdiction in the United States to implement a social impact bond to finance services aimed at reducing teen pregnancy and increasing high schoolers' educational attainment, D.C. Mayor Vincent Gray's budget and finance office said.

Asset managers may have to register as municipal advisors to protect themselves from violating the Securities and Exchange Commission's MA rule, which places restrictions on advice concerning muni bond proceeds and other financial products commonly used by states and localities.

Moody's Investors Service has downgraded to A3 from A2 the rating on Fred Hutchinson Cancer Research Center in Seattle.

Moody's Investors Service upgraded the ratings on University of La Verne, Calif. a notch to Baa1 with a stable outlook affecting $88.4 million in debt.

The years Honolulu officials invested in its $5.2 billion elevated rail project are paying off, while Los Angeles officials are fighting for a funding arrangement they say is needed for their rail plans to reach fruition.