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Standard & Poor’s and Moody’s Investors Service further downgraded Stockton, Calif., bonds this week after its City Council voted to delay bond payments and enter negotiations with creditors to try to avoid bankruptcy.
March 1 -
SAN FRANCISCO — The Stockton, Calif., City Council voted Tuesday night to default on payments tied to $330 million of bonds and begin negotiations to try to avoid Chapter 9 bankruptcy.
February 29 -
LOS ANGELES — Officials at Downey Regional Medical Center are probably wondering if five will be their lucky number after the bankrupt Southern California hospital announced the fifth postponement of a planned bond buyback Monday in a disclosure filing.
February 29 -
Transportation Secretary Ray LaHood and House Transportation Committee chairman John Mica traded jabs over the funding of California's high-speed rail project Wednesday, the latest public display of the rift between House Republicans and the Obama administration over the future of American transportation.
February 29 -
LOS ANGELES — A Los Angeles County district attorney's office spokeswoman confirmed that prosecutors launched an inquiry in November into an ethics complaint made by a private citizen against county assessor John Noguez.
February 28 -
Stockton, Calif.'s announcement that it may cease general fund payments toward debt service on hundreds of millions of dollars in bonds, and take initial steps towards bankruptcy, is still shaking out in the market.
February 27
- Washington
WASHINGTON — House Minority Whip Steny Hoyer, D-Md., urged Congress on Monday to "go big" on deficit reduction before the November election and said he believes there is "broad consensus" for a comprehensive plan similar to those proposd by the Bowles-Simpson and Domenici-Rivlin commissions.
February 27 -
Stockton, Calif., City Council members will be asked Tuesday to stop making general fund payments toward several bond issues and to take the first step toward a Chapter 9 bankruptcy filing, according to a disclosure statement filed Friday on the MSRB's EMMA website.
February 24
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Some issuers of transit bonds are concerned that the transportation bill pending in the House might hurt their credit ratings.
February 24
- Washington
The Municipal Securities Rulemaking Board released a long-range plan to improve transparency in the muni market by collecting a wide range of new information from a variety of sources, integrating that data on the Electronic Municipal Market Access system, and making it available to investors and other market participants in a more user-friendly and searchable format.
February 23
