Far West

California should brace for more municipal bankruptcies as its local governments continue to strain under the weight of national and local economic policies, according to experts.

San Bernardino's City Manager said Thursday the city is still considering plans on whether to declare bankruptcy or to enter mediation with creditors.

Fitch Ratings has downgraded $188 million of Tacoma, Wash. limited tax general obligation bonds to A from AA-minus.

Seattle voters will decide in November whether to authorize $290 million of bonds to help rebuild part of the city's seawall and downtown piers.

The Portland, Ore. school board voted unanimously on Monday to prepare a $482 million bond measure for the November ballot.

Fitch has downgraded the Baldwin Park Financing Authority, Calif.'s sales tax and tax allocation bonds to BB from BBB.

California Controller John Chiang said in report that the state ended the fiscal year with a $1.4 billion shortfall that was $1 billion less than expected.

Fitch Ratings downgraded San Francisco Community College District three notches due to concerns about its accreditation.

Sen. Chuck Grassley, R-Iowa., has put a hold on two Treasury nominees.

San Bernardino's surprise decision to file for bankruptcy, becoming the third California city to do so in less than a month, has shaken the municipal market and set up a likely showdown with bondholders.