Far West

Decisions by three organizations to drop Moody's ratings underscore an industry-wide trend as the sector struggles with rising costs and narrowing margins.

Between them, the California State University trustees and University of California regents have sold more than $23 billion of bonds since 2017.

Outflows continued as investors pulled $4.532 billion from mutual funds in the week ending Oct. 12 after $5.172 billion of outflows the previous week, according to the Investment Company Institute.

California Gov. Gavin Newsom scheduled a special session for Dec. 5 to discuss implementing the tax on oil company profits amid high gas prices.

"Despite a pick-up in volatility in the rates market, municipals have been performing relatively well in October," according to Barclays PLC.

Moody's says Hawaii's tourism-based economy is disproportionately vulnerable to high inflation. It affirmed the state at Aa2 ahead of a $800 million GO deal.

California is looking to pioneer the floating wind technology that's required in the deep waters where roughly two-thirds of the country's offshore wind potential exists.

Partisan politics is playing a larger role in public finance, flaring up into bickering more often than in the past.

California Gov. Gavin Newsom, Oregon Gov. Kate Brown, Washington Gov. Jay Inslee and British Columbia Premier John Horgan signed a statement of cooperation.

The Sherwood school district in northwest Oregon had its issuer rating downgraded to A3 from A1 by Moody's Investors Service.