Far West

Public Financial Management announced Thursday that it has expanded its higher education practice in the Los Angeles office.

The recently signed bill to curb California school districts’ issuance of capital appreciation bonds is a credit positive for the districts, according to a report from Fitch Ratings.

A court ruling that overturned a freeze on retiree healthcare cost inflation in Los Angeles could be a credit negative for state and local governments, according to Fitch Ratings.

A federal appeals court ruling in a case brought by investors should set a favorable precedent for municipal bond issuers, said an attorney for Alameda, Calif., which prevailed.

Speakers at The Bond Buyer's California Public Finance conference suggested tax reforms to stabilize the revenue volatility seen as contributing to the state's single-A ratings.

A default would be unprecedented and would have the potential to be catastrophic, the Treasury Department warns in a paper issued Thursday.

Fitch Ratings downgraded Cerritos Community College District from AA-plus to AA with a stable outlook impacting $57.5 million in bonds.

California Gov. Jerry Brown signed a bill that establishes parameters for school and community college bond capital appreciation bond issuances.

The Internal Revenue Service has either resolved tax issues or closed audits with no changes to bonds in New Jersey, Louisiana, and Nassau County, N.Y., according to event notices filed on the Municipal Securities Rulemaking Board's EMMA system.

Late U.S. Senator Daniel Inouye was honored Wednesday by the American Public Transportation Association for his efforts championing Honolulu's elevated rail transit project.