Far West

The Highway Trust Fund will need an additional $85 billion in U.S. general fund transfers over the next six years just to keep the program operating despite recent events that have shown that current spending is not enough, a Department of Transportation official told a Senate Panel Thursday.

Moody's downgraded $5 million of Nevada Housing Division Multi-Unit Housing Revenue bonds to Aa2 from Aaa as part of larger review of U.S. stand-along housing bond programs secured by credit enhanced mortgages.

Moody's upgraded San Diego, Calif.-based Sharp HealthCare's rating to A1 from A2 affecting approximately $475 million of outstanding debt.

Orange County Supervisor John Moorlach, a Republican, said he would not run for California governor.

Moody's Investors Service said triple-A rated Alaska appears in good shape to overhaul its tax on oil production.

Stockton City Manager Bob Deis will retire Nov. 1 after three years on the job that included guiding the city into bankruptcy, officials announced Wednesday.

The process of adopting California's budget is no longer a drama that holds much interest for the municipal bond market as the state's fiscal house becomes sturdier after years of dilapidation.

Stockton, Calif., officials said the city reached an agreement on health benefit claims with retirees in its bankruptcy case.

Higher revenue collections have boosted the short-term outlook for states but the slow economic recovery and stubbornly high unemployment have many states worried that the fiscal improvements may be temporary.

Moody's Investors Service placed Antelope Valley Healthcare District's Baa3-rated bonds on review for downgrade following the unexpected resignations of the chief executive officer and the chief financial officer.