California

Moody's Investors Service upgraded Los Gatos, Calif.'s issuer rating to Aaa from Aa1 and its certificate of participation rating to Aa2 from Aa3, affecting $21.8 million in lease-backed debt.

Fitch Ratings upgraded Vista, Calif.'s implied unlimited tax general obligation rating to AA-plus from AA and $111 million certificates of participation series 2007 to AA from AA-minus.

An appellate court ruling could mean increased financial pressure for cities that transfer revenue from electric utilities to general operating funds, Fitch Ratings warned in a report.

Opponents of California's High Speed Rail project filed an appeal Monday challenging a ruling that favored federal jurisdiction over California environmental regulations on a segment of the line from Fresno to Bakersfield.

California's general fund tax revenues are coming in $1 billion to $2 billion over the already healthy projections in Gov. Jerry Brown's proposed budget, according to a new report from the state's Legislative Analyst's Office.

Berryessa Union School District, located in San Jose, Calif., received a ratings boost to AA-minus from A-plus on its long-term ratings and on the district's upcoming plans to issue $40 million in general obligation bonds.

Fitch Ratings has upgraded the rating on Cedars Sinai Medical Center's outstanding debt to AA-minus from A-plus and revised its outlook to stable from positive affecting $1 billion in debt.

In a formal written opinion, U.S. Bankruptcy Judge Christopher Klein reiterated that bankruptcy law gave Stockton, Calif. the legal authority to impair pensions, even though the city chose not to.

Gina Marie Lindsey, executive director of the Los Angeles World Airports which runs Los Angeles International Airport and two others, plans to retire in the spring.

The Association of Bay Area Governments plans to reimburse San Francisco the $1.3 million missing from a city redevelopment fund after an alleged theft by its finance director and conduct a forensic audit the transactions he worked on.

Standard & Poor's revised the outlook to negative and affirmed an A-plus rating on Kern County, California's long-term debt after the county declared a fiscal emergency when oil prices fell.

Inglewood, Calif. and San Diego mayors discuss professional football stadium plans for their cities in the week leading up to the Super Bowl.

Moody's Investors Service has placed Kern County under review for a possible downgrade affecting approximately $86 million in debt.

Clarke Howatt, finance director for the Association of Bay Area Governments, is being sought by San Francisco law enforcement officials in the theft of $1.3 million in bond money from a regional planning agency, according to the San Francisco Chronicle.

California's recovery resulted from reduced spending, not just higher revenues, according to a Standard & Poor's report.

Oil-dependent Kern County, Calif. declared a fiscal emergency Tuesday anticipating a shortfall with oil prices down; one-third of the county's property tax revenues come from oil companies.

A taxpayers' group in San Diego County won a legal battle in its challenge to the way the school district spends its voter approved bonds.

Los Angeles International Airport will point to increasing passenger counts and progress on its expansion plan when it sells about $500 million of bonds.

A Medicare violation self-reported by the Mendocino Coast Health Care District could delay its efforts to exit Chapter 9 bankruptcy, according to a Standard & Poor's report.

California's attorney general's office needs two additional weeks to complete its required review of the proposed sale of non-profit Daughters of Charity Health System to for-profit Prime Healthcare.