Far West

WASHINGTON - Dealer groups and market participants criticized the Municipal Securities Rulemaking Board's draft rule on broker's brokers last week, saying it would undermine, not improve, secondary market liquidity.

SAN FRANCISCO - Moody's Investors Service downgraded Wenatchee, Wash.'s general obligation ratings three notches due to concerns over city-backed debt issued to pay for a struggling arena.

WASHINGTON - The Senate failed to move forward on Thursday with either of the separate infrastructure jobs bills proposed by Democrats and Republicans.

SAN FRANCISCO - The San Jose Redevelopment Agency has received an extension on letters of credit from JPMorgan on $95 million of variable-rate debt, avoiding the threat of a default this month.

WASHINGTON - The Municipal Securities Rulemaking Board would for the first time require broker-dealers to disclose to state and local governments that they are not fiduciaries and would prohibit underwriters from telling issuers not to hire financial advisors, under revised rule changes it filed Thursday.

SAN FRANCISCO - California's plan for a bond-funded high-speed train system just got more expensive. Fifty billion dollars more expensive.

Standard & Poor’s Monday lowered its rating on the San Diego Unified School District’s general obligation bonds to AA-minus from AA and gave the district a negative outlook.

A San Diego taxpayers’ watchdog group released a report Tuesday that says the Southern California Metropolitan Water District has accumulated more than $600 million in unfunded liability for retirees since 1999, according to published reports.

Santa Monica planned to sell $41 million of lease-revenue bonds this week to fund renovations of a parking garage to serve the city’s downtown shopping area and to refund existing bonds.

Adventist Health closed a deal Monday to take over the formerly bankrupt Sierra Kings Heath Care District’s Central California clinics and hospital.