Far West

Moody's Investors Service has downgraded the rating on the Port of Seattle's intermediate and subordinate revenue bonds ahead of its $140 million refunding deal.

The National Association of Independent Public Finance Advisors has sent an open letter to Securities and Exchange Commission chairman Mary Jo White insisting the municipal advisor rule the SEC adopted in September will not restrict the flow of information between issuers and other parties to a bond deal.

Without a labor contract extension, Boeing could pursue out-of-state production locations, which would be a credit negative for Washington State and the Puget Sound region, Moody's Investors Service said.

A Los Angeles County joint powers authority will refund up to $200 million in redevelopment agency tax allocation revenue bonds as conduit issuer for seven successor agencies.

A coalition of local leaders is asking Congress to generate an additional $30 billion a year for transportation efforts by almost doubling the federal gasoline tax.

California's budgetary condition is stronger now than it has been in the past decade, according to a report released by the Legislative Analyst's office on Wednesday.

Stockton is poised to exit Chapter 9 bankruptcy in March 2014, but not without a fight with its last major creditor, Franklin Advisers, over $35 million of the city's lease revenue bonds.

Standard & Poor's upgraded the rating on California's economic recovery bonds to AA from A-plus, with a stable outlook.

The Desert Hot Springs, Calif., City Council voted unanimously to declare a fiscal emergency, the first step in the state's process leading to filing for municipal bankruptcy, according to news reports.

A federal interagency task force, created to advise the Puerto Rican government on fiscal and economic matters, will meet with Puerto Rican officials next month, but will not provide any additional financial assistance, knowledgeable sources said.