Far West

Fitch Ratings completed its review last week of 62 ratings of tax allocation bonds issued by 36 former California redevelopment agencies, culminating in downgrades for 12 of the credits.

The California secondary market remains mostly steady to strong as high-profile local municipal bankruptices unfold, but it has not been without some minor turbulence, according to municipal experts.

Amtrak's roughly $7 billion master plan for a complete overhaul of Washington D.C.'s Union Station will likely involve a large collaborative effort mixing public and private funding sources, according to a company spokesman and industry experts.

Municipal Securities Rulemaking Board officials said Tuesday the board is looking into the Libor scandal to see how it may impact the municipal bond industry.

Sussex County board member Eric Fly voiced his concern over the process and the plan itself, "The whole process is backwards. VDOT isn't going to give the public any time to voice their opinion prior to submitting their final application to the Federal Highway Administration. They clearly know that the public is against the idea and are therefore trying to jam it through before any public comment.

Private-activity bond issuance declined in 2011, mirroring the overall municipal bond market as state and local governments stepped up muni issuance during the last half of 2010 to take advantage of favorable stimulus law provisions before they expired, according to an annual survey and market participants.

Stockton, Calif. asked bondholders and bond insurers to take major hits during the mediation process that preceded the city's Chapter 9 bankruptcy filing.

Lifting the more than 100 year-old federal law restricting the height of buildings in the District of Columbia would eventually expand the city's "very limited tax base," D.C. Chief Financial Officer Natwar Gandhi told a House subcommittee.

The University of California will sell $900 million of revenue bonds next week for refinancing and to fund various projects across six campuses, including the renovation of the storied Pauley Pavilion basketball arena at UCLA.

Washington Treasurer James McIntire said the state saw good results from its four competitive bond sales on Wednesday that totaled $560 million