Far West

The California Senate on Monday confirmed Ana Matosantos as director of the Department of Finance.

Voters in the beleaguered Southern California city of Bell tossed out their entire City Council during a recall election Tuesday.

Moody’s Investors Service has upgraded Sierra Kings Health Care District’s general obligation bonds to Baa3 from Ba2 after a federal judge ruled that GO debt service cannot be interrupted by the district’s Chapter 9 bankruptcy filing.

SAN FRANCISCO — Standard & Poor’s Wednesday said it raised Oregon’s general obligation bond rating to AA-plus from AA as a result of tighter budget controls.

WASHINGTON — The new chairman of the Bond Dealers of America, Michael Marz, takes the helm amid historic interest and uncertainty in the municipal securities market.

SAN FRANCISCO — The city of Vallejo, Calif., must disclose more information about the role of its mayor and bankruptcy law firm in past bond deals due to accusations of conflicts of interest, a federal judge ruled Tuesday.

WASHINGTON — Representatives of the three major credit rating agencies said Tuesday they do not know of any rating analysts who were treated to expensive dinners, Broadway shows or sporting events by broker-dealers to obtain favorable muni ratings. All said they are unaware of any regulatory investigations of such alleged conduct.

SACRAMENTO — A federal bankruptcy judge said he will set a date in June for the final showdown with creditors on Vallejo, Calif.’s plan to try and rid itself of debt.

The Financial Industry Regulatory Authority has not found any major abuses from its targeted examinations of broker-dealers that were either placement agents or worked with such agents to obtain business from municipalities and public pension funds, market sources said Tuesday.

WASHINGTON — In the first case of its kind, the Financial Industry Regulatory Authority fined Southwest Securities Inc. $500,000 for paying unaffiliated individuals to solicit municipal securities business for it, in violation of Municipal Securities Rulemaking Board Rule G-38.