Far West

Increased transparency in the bond rating agencies has been a positive for both investors and issuers, even though it can potentially create a false sense of analysis being an exact science, experts told fellow municipal analysts on Thursday.

Former CDR Financial Products, Inc. employees Douglas Goldberg and Daniel Naeh were not given any prison time or probation when sentenced on Thursday after pleading guilty in 2010 to multiple criminal charges for participating in wide-reaching bid rigging schemes in the municipal market.

California tax revenues came in at almost $14 billion for the month of April, beating estimates by $300 million, according to a report from the state controller, John Chiang.

The Senate Environment and Public Works Committee will vote on a surface transportation reauthorization bill on May 15, committee leaders announced Thursday.

The National Federation of Municipal Analysts presented its annual awards during its conference here on Wednesday, honoring four individuals and an organization for contributions to the municipal bond industry.

In what could be the final chapter in its Chapter 9 proceedings, Stockton will head to court next week to try and convince a U.S. bankruptcy judge that it has a recovery plan that will work.

Puerto Rican investors in municipal bond closed-ended funds run by UBS AG, Banco Popular and Popular Securities sued the firms.

San Francisco is proposing a $500 million general obligation bond as part of a $1.5 billion transportation package for the November ballot.

California Gov. Jerry Brown's new rainy day fund proposal could help improve the state's credit quality, according to a report from Standard & Poor's.

The National Association of Bond Lawyers urged the Treasury Department and Internal Revenue Service to provide guidance in the coming year on matters ranging from President Obama's health care reform law to the definition of a political subdivision.