Far West

Moody's Investors Service said a court ruling that allows California to cut its Medi-Cal program is a negative for the credit ratings of hospitals, and positive for the state's fiscal flexibility.

The California Health Facilities Financing Authority, a conduit issuer, last week approved an $850 million bond issuance for St. Joseph Health System, according to a spokesman.

Issuer officials expressed trepidation Saturday about upcoming Securities and Exchange Commission rulemaking and the prospects of SEC bringing more disclosure-based enforcement cases against them.

Reneé Webster-Hawkins was selected to be the new executive director of the California Pollution Control Financing Authority, said California Treasurer Bill Lockyer.

U.S. toll roads are maintaining high investment-grade ratings, despite the slow economic recovery, Fitch Ratings said Thursday, releasing its first annual review of the toll roads it rates.

The Commonwealth of the Northern Mariana Islands is considering selling bonds backed by islands as collateral, and legalizing gambling in an effort to tackle its pension problem.

Chris Lytle was named the new executive director of the Port of Oakland last week, according to a release from the port's board of commissioners.

The Los Angeles City Council approved a plan to merge two Los Angeles departments.

Moody's Investors Service upgraded to Baa1 from Ba1 the rating to the Successor Agency of the Redevelopment Agency of the City of Santa Monica Calif.'s earthquake tax allocation bonds impacting $39.8 million in outstanding long-term debt.

Gov. Jerry Brown's administration has ordered an independent review of the California Department of Transportation amid controversy over the new span of the San Francisco-Oakland Bay Bridge.