Far West

A national infrastructure bank could complement an extended Build America Bonds program, but no detailed proposal for the bank is ready to be unveiled soon by the Obama administration, officials told the Senate Banking Committee ­Tuesday.

ALAMEDA, Calif. — Fitch Ratings washed its hands of the troubled Bell, Calif, on Monday, withdrawing its ratings after issuing a final downgrade to the city’s already junk-rated debt.

WASHINGTON — Mega muni investor Peter Kuhn is bullish on muni bonds, but says investors should be very careful about what they buy and issuers should provide more timely and informative secondary market information.

Rep. Jim McDermott has introduced legislation that would allow for an unlimited amount of clean renewable energy bonds to be issued through 2013, but would revoke the ability of state and local governmental entities to issue them, leaving only public power providers, electric cooperatives, and tribal utilities as CREBs issuers.

SAN FRANCISCO — On the eve of its first field hearing on the municipal securities market here, the Securities and Exchange Commission issued an “investor bulletin” highlighting the key characteristics and risks of munis, while two self-regulators jointly released a notice reminding dealers of their obligations to investors while selling them munis in the secondary market.

Municipal bond issuance is expected to increase next year, but state and local governments will need additional federal support to grow, according to a survey of market participants.

ALAMEDA, Calif. — This week, ­California is on track to set a record for its latest-ever budget.

The Municipal Securities Rulemaking Board is disputing Standard & Poor’s claims that the board’s plans to display municipal bond ratings on its EMMA website would cause it to lose significant revenue, provide few benefits to ­retail ­investors, and erode its intellectual ­property rights.

ALAMEDA, Calif. — The Securities and Exchange Commission is investigating bonds issued by Victorville, Calif., and its enterprises, a city official has confirmed.

SAN FRANCISCO — The first public-private partnership project under a program championed by California Gov. Arnold Schwarzenegger could lead to the sale of almost $600 million of private-activity bonds to fund a six-lane roadway to San Francisco’s Golden Gate Bridge.