California

California is spending big on water and sewer infrastructure, with multiple large deals from state and local issuers, including transactions with green bond certifications.

The Southern California Logistics Airport Authority’s subordinate tax allocation revenue bonds enjoyed a Moody’s Investors Service upgrade to B3 from Caa2.

Preliminary plans to relocate the National Football League’s Oakland Raiders to Las Vegas call for the creation of a Clark County Stadium Authority that would issue up to $750 million of bonds to help finance a new $1.4 billion stadium under a public-private partnership agreement.

The future of pension obligation bonds remains cloudy in California in the wake of the haircuts imposed on their holders in the San Bernardino and Stockton bankruptcies.

San Bernardino is on track to exit bankruptcy by the end of the year, City Attorney Gary Saenz said.

State budget conditions vary widely as of late fiscal 2016, with the overall picture getting better while states with less diversified economies face significant stress, Standard & Poor's said Wednesday.

The recent decision by the California State Teachers’ Retirement System to change its investment policy and reduce expected asset return volatility, is credit positive for California and its school districts , Moody's Investors Service said.

California is the least prepared to weather a recession of the four most populous states, according to a Moody’s Investors Service fiscal stress test.

California achieved $195 million in net present value savings on a $1.5 billion competitive sale that included a sizeable refunding.

A California bill that would encourage the state’s two big public pension funds to invest in state infrastructure was approved in committee.

Long Beach, Calif. closed Wednesday on $513 million in financing on a public-private partnership for a new city hall, port headquarters, library and park.

Legislation to put California’s teacher pension fund on a more sustainable track could prove to be bitter medicine for some school districts and the state itself because of higher contributions.

The San Diego Association of Governments plans a bond sale in mid-July.

While the key oil production states of Oklahoma, North Dakota and California have all been hit hard by the drop in crude oil prices, the impact varies at both the state and local government level, Moody’s Investors Service says.

California’s Department of Finance reported that March revenues came in $170 million below the $7.6 billion projected in the governor’s budget.

San Ysidro School District, once on the verge of a state takeover, had its certificates of participation boosted to investment grade by Fitch Ratings.

San Diego Mayor Kevin Faulconer uploaded seven years of the city’s budget information into an online tool to make it easier to track how tax dollars are spent.

Orange County, Calif., anticipates forming community facilities districts each year over the coming decade that would issue unrated dirt bonds to pay for infrastructure on a 23,000 master-planned community.

San Francisco-based Dignity Health had its outlook revised to negative from stable by Standard & Poor's, which cited a decline in financial performance.

As Orange County, Calif., approaches the end of debt service payments related to its 1994 bankruptcy, it is lining up its first long term debt sale in a decade.