Far West

A disclosure regimen that gives the Securities and Exchange Commission authority to set baseline standards might work for the traditional municipal securities markets, but not its riskier outposts, an independent financial advisor warned in an article last week.

SAN FRANCISCO - With Moody's Investors Service dropping Fresno three notches to A2 from Aa2 on Thursday, the California city's membership in the "super downgrade" club has now been affirmed by all three credit rating agencies.

SAN FRANCISCO - A California health care district is swaying once again on the edge of bankruptcy after emerging from Chapter 9 protection only three years ago.

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.