Far West

Standard & Poor’s downgraded Fresno’s issuer credit rating three notches, to A from AA, the agency said in a report Monday.

The California Health Facilities Financing Authority granted the Downey Regional Medical-Center Hospital permission at its Sept. 29 board meeting to proceed with negotiations to sell its outstanding bonds to a private purchaser to enable it to exit bankruptcy in mid-November.

San Francisco’s Redevelopment Commission has appointed Tiffany Bohee as interim director of San Francisco Redevelopment Agency, replacing outgoing director Fred Blackwell.

California Gov. Jerry Brown Tuesday signed a bill that will strengthen the state auditor’s oversight of local governments in the wake of the scandal surrounding the city of Bell.

DENVER - Municipal borrowers continue to lag behind corporations in completing their annual audited financial reports, and state and local governments are only incrementally faster than a year ago, a new report concludes.

WASHINGTON - Two key Democratic lawmakers are urging financial regulators to protect the ability of pension plans and state and local governments to use interest rate swaps cost-effectively.

LOS ANGELES - Chapman University, a private university in Orange County, Calif., best known for its film, business, and law schools, wants to increase its health science offerings.

SAN FRANCISCO - Moody's Investors Service said the San Jose Redevelopment Agency's $1.7 billion of outstanding senior bonds could suffer should the RDA be forced to default on a floating-rate bond issue.

SAN FRANCISCO - Windrush School, a 35-year-old private school located in the East Bay suburbs of San Francisco, filed for Chapter 11 protection in the U.S. Bankruptcy Court in Oakland last week when it couldn't reach a forbearance agreement with bondholders on $13 million of bonds issued in 2007.

WASHINGTON - There are perceptible signs that a long-awaited surface transportation bill may actually be approved by Congress early next year.