Arizona

Randy Miller, 70, and Chad Miller, 41, entered guilty pleas Wednesday in the Legacy Cares securities fraud case and will be sentenced at a later date.

The Phoenix-based university will not have to pay a $37.7 million fine after the U.S. Department of Education dropped its case.

The outlook revision to positive from stable comes ahead of the airport's planned refunding and plans to issue bonds to help finance a $2.7 billion capital program.

Fallout from the Legacy Cares deal includes bondholder lawsuits against the underwriter and bond counsel, payment defaults, a Chapter 11 bankruptcy, and now fraud charges from the SEC and DOJ.

The SEC and DOJ announced charges in connection with municipal bonds issued for the Legacy Cares sports complex in Arizona, which defaulted and went bankrupt.

Houston, Phoenix, and Dallas are taking action to address fiscal challenges brought on by litigation, state actions and a ballot measure.

If the seven states dependent on the Colorado River don't craft a new operating agreement, the federal government could end up doing it for them.

Texas, Oklahoma, and other Southwest states would jump on the bitcoin bandwagon amid a nationwide surge in bills to invest public money in cryptocurrencies.

The rating agency said the one-notch downgrade, which comes ahead of a bond sale, was due to weaker operating performance and liquidity.

Issuers in the eight-state region sold $103.3 billion of bonds last year, with Texas deals accounting for $68.13 billion of the debt.