California

Officials of Bell, Calif., the Los Angleles-area city where the former administration was jailed earlier this year for misappropriation of funds, said the tax-exempt status of $35 million in general obligation bonds that came under review by the Internal Revenue Service has been preserved.

The Internal Revenue Service is auditing bonds issued by the East Bay Municipal Utility District in 2003 and 2005.

If San Bernardino follows Stockton and Vallejo's example by impairing its bond creditors, it consolidates a pattern in California Chapter 9 cases in which pensions fare better than lease-backed and pension-obligated bondholders.

Following the failure of a local ballot measure to increase its sales tax rate, Marysville, Calif. was downgraded to Baa1 from A3 by Moody's Investors Service.

Loma Linda University Medical Center had its outlook lowered to negative by Fitch Ratings, which cited a higher-than-expected debt burden and a pressured financial profile.

A recent analysis conducted by the California Debt and Investment Advisory Commission found that the state's water districts could afford to pay estimated debt service costs included in the Bay Area Delta Conservation Plan.

San Diego Mayor Kevin Faulconer appointed Maksim Pecherskiy as the city's chief data officer with the aim of making the city more transparent, efficient and innovative.

Moody's Investors Service has downgraded the rating on Glendale, Calif.'s outstanding water revenue debt a notch from to A1 from Aa3 affecting $86 million in debt.

San Bernardino hires consultant to study service levels needed in the city in the hope of crafting a feasible bankruptcy exit strategy.

California's total reserves could grow to over $4 billion by the end of fiscal year 2016, according to estimates by the state's Legislative Analyst's Office.

Trends in the San Bernardino bankruptcy case put the city's bondholders on track to feel more pain than other creditors.

Fremont Unified School District sold $140 million of general obligation bonds on Tuesday to fund school projects throughout the San Francisco Bay Area district.

San Francisco's toll bridge agency is planning to sell $814 million of refunding and revenue bonds next month.

San Diego's five-year financial outlook forecasts revenues to improve modestly from fiscal 2016 to 2020.

Franklin Advisors, the holdout creditor in the Stockton bankruptcy, has filed an appeal challenging U.S. Bankruptcy Judge Christopher Klein's confirmation of the city's plan of adjustment.

Moody's Investors Service affirmed its A1 rating for Rady Children's Hospital-San Diego and revised the hospital's outlook to positive from stable affecting $404 million in outstanding debt.

Culver City officials had little time to celebrate a favorable court ruling in the city's three-year dispute with the California Department of Finance stemming from the redevelopment agency wind-down process, as DOF filed an appeal three days later.

Moody's Investors Service has upgraded San Diego’s issuer rating to Aa2 from Aa3 and the city's lease revenue bonds to A1 from A2, according to a Nov. 12 report.

With its credit reputation on the upswing, California was in a position to capitalize on Thursday when it priced $1.2 billion of general obligation bonds.

Los Angeles Mayor Eric Garcetti on Nov. 12 announced several initiatives expected to save up to $50 million that will be used to repair 200 miles of streets annually.