Far West

Desert Hot Springs, Calif. officials avoided steps that would lead to its second Chapter 9 bankruptcy during a special meeting, but the city hasn't resolved its fiscal crisis yet.

Moody's Investors Service has upgraded the rating on Portland, Ore.-based Legacy Health System's revenue bonds based on improved finances.

American Airlines and US Airways Group Inc. settled an antitrust lawsuit with the U.S. Department of Justice, clearing American's path to exit bankruptcy and repay its municipal bondholders.

The California State Public Works Board is leading the new issue calendar this week with a $625 million sale of lease revenue bonds scheduled for Thursday.

Washington, D.C., and Detroit have the strongest funded pension plans, with Chicago the weakest, Morningstar Inc. said in a research report.

The California Public Employees' Retirement System wants to skip steps in its appeal of the order granting San Bernardino, Calif., the eligibility to be in Chapter 9 bankruptcy.

The Securities and Exchange Commission's municipal advisor registration rule will appear in the Federal Register Nov. 12, starting the 60-day countdown until it becomes effective Jan. 13.

The Internal Revenue Service has closed an audit of about $171 million of bonds issued by the East Baton Rouge, La. Sewerage Commission in 2006 without changing the bonds' tax-exempt status.

In a faltering economic environment where philanthropy often falls short, museums and memorials are looking to innovative bond structures and star-studded fundraising campaigns to finance their projects.

Stockton's vote to approve raising the sales tax is a credit positive for the city and for its bond insurers as it increases the likelihood that the bankruptcy exit plan will be approved, according to Moody's Investors Service.