Far West

Fitch Ratings dropped its rating to A from A-plus on $26.7 million of limited-tax general obligation bonds issued by North Las Vegas on Oct. 19.

Standard & Poor’s lowered its rating one notch on $35 million of outstanding bonds issued for Casa Colina Inc. and Affiliates to BBB from BBB-plus.

The Children’s Hospital of Orange County received A ratings from Fitch Ratings and Standard & Poor’s on $105 million of fixed-rate bonds expected to sell on Oct. 24.

The California Supreme Court said it will hear arguments Nov. 10 in San Francisco in a case that will likely decide the future of redevelopment agencies in the state.

Gov. Jerry Brown says he will be proposing specific reforms to California’s pension system.

WASHINGTON - The Internal Revenue Service plans to audit certain bond issues used by nonprofit organizations based on reviews of the bond-related information they file with the agency, IRS officials and tax lawyers said.

The mayor of Santa Ana, Calif., dismissed reports that the city - facing a $24 million deficit in 2012 - is on the verge of bankruptcy.

Proposals to limit the tax-exemption on municipal bonds get short shrift from the majority of market participants, but some state and local government experts on Tuesday seemed resigned to the notion that tax-reform efforts will inevitably do just that.

SAN FRANCISCO - Lower-than-expected revenues could trigger budget cuts in California this year, with one rating agency saying that the revenue outlook is a credit negative.

San Francisco-based Catholic Healthcare West, which operates 40 hospitals throughout California, Nevada and Arizona, is planning a $645 million new-money and refunding deal next week.