Far West

The National Federation of Municipal Analysts will ramp up its education efforts on disclosure this year by publishing guidance on general obligation bonds and new issue disclosure, NFMA chair Susan Dushock said.

If bankrupt Stockton and San Bernardino, Calif. fail to modify their pension liabilities, they could end up like Vallejo, which did not change those liabilities and now risks of a second bankruptcy, said Moody's.

El Rancho Unified School District lost its A-plus rating from Fitch, which cited concerns over financial projections, one month after the Los Angeles County Office of Education appointed a fiscal advisor to the school board. Such an appointment is often a first step before the state takes over a troubled school district.

Standard & Poor's has downgraded the ratings on Northern Inyo Local County Hospital District's revenue bonds to junk.

California's drought emergency has heightened the need for financial aid, as the state and federal government pledge to send funds to communities in need.

After a nearly three-year battle, Honolulu rail officials prevailed over detractors of Oahu's $5.26 billion elevated-rail project with two federal court victories on Feb. 18.

Dealer groups are unsure whether the Municipal Securities Rulemaking Board's proposed best execution rule is tailored enough for the municipal market, but are pleased it would exempt sophisticated professionals.

California Gov. Jerry Brown has signed into law a bill that would allow infrastructure finance districts to include previous redevelopment project areas.

Moody's Investors Service on Feb. 18 upgraded Orange County, Calif. Sanitation District's certificates of participation to Aa1 from Aa2 affecting $392.1 million in debt.

The California Housing Finance Agency showed it's possible to buy time, and not just kick the can down the road, when faced with significant financial challenges, according to a Municipal Market Advisors report.