California

A speculative-grade deal to build on-campus housing at Santa Rosa Junior College is a first for a conduit issuer operating out of the State Treasurer's Office.

California's troubled high-speed rail project was not a priority in the bill the Senate passed Tuesday, amid $66 billion targeted for intercity rail.

The shutdown of a major California hydroelectric power facility underscores the severity of drought conditions in the state.

A project that dealt municipal bond investors one of the biggest high-yield defaults of the past decade is about to ask them for more cash

The city has issued a second set of bonds to fund 266 housing units that are the first of some 8,000 planned on adjoining islands in the San Francisco Bay.

July volume was $31.9 billion keeping the annual pace ahead of last year's record-breaking total. Issuance still lags demand by a large amount — $60 billion by many accounts for August alone — as redemptions coupon payments pile up.

The question looms as to what point heightened wildfire activity becomes a significant risk for municipal debt.

A double-digit return will trigger a reduction in the California Public Employees’ Retirement System's discount rate under a risk mitigation policy.

The Fitch Ratings upgrade applies only to GO debt — the city's issuer default rating remains AA-plus. The GOs benefit from California’s 2016 statutory lien law.

S&P Global Ratings gave California an elevated risk in the environmental category on an ESG scorecard, partly because of wildfire risks.