California

A judge's decision that bankrupt California local governments can impair pension obligations could open the door for pension negotiations but won't cause a rush to file for Chapter 9 bankruptcy protection, municipal bankruptcy attorneys say.

California's water utility sector is maintaining a strong credit profile, despite pressures from the state's ongoing drought, according to market participants.

The judge in the Stockton, Calif. bankruptcy case has ruled that a city in Chapter 9 bankruptcy has the power to adjust California Public Employees' Retirement System pensions.

The California Debt and Investment Advisory Commission is conducting an analysis of bond disclosure information provided by conduit borrowers including nonprofit hospitals when significant events occur.

Moody's Investors Service has upgraded the California College of the Arts ahead of a private placement planned later this month.

Los Angeles city leaders offer support for Anschutz Entertainment Group's request for an extension to sign the National Football League team required for its soon-to-expire contract with the city to construct an NFL stadium and convention center expansion.

Gov. Jerry Brown on Monday signed into law a bill that will make it easier for local governments to take advantage of a current infrastructure financing law.

A ruling by a Superior Court judge in Orange County, Calif., Friday cleared the way for the Anaheim City Council to sell $300 million in bonds to pay for a 200,000-square-foot convention center expansion.

A Superior Court judge in Riverside County will hear arguments Oct. 31 on a motion for summary judgment in a lawsuit brought by Ontario, California seeking the return of its airport from Los Angeles.

San Francisco-based Dignity Health plans to issue $1.4 billion worth of debt through several private placement deals and a taxable bond issuance up to $888 million in the first two weeks of October.

Gov. Jerry Brown signed a bill authorizing a bond issuance for the Monterey Peninsula's water project.

California's Department of Water Resources is planning to sell $625 million of water revenue bonds to refund a portion of its outstanding bonds for debt service savings.

California cities reeling from the California Public Employees' Retirement System plans to crank up rates over the next five years are looking for the exit door, but find the costs and the rules made by CalPERS make leaving all but impossible.

California completed its sale on Tuesday of $2.37 billion of general obligation bonds, meeting strong demand from both retail and institutional investors.

Cathedral City officials have twice drawn on reserves this year to make bond payments on $12.3 million in community development district bonds issued to pay for instrastructure for the 1,362-unit Verano, a master-planned community in the Coachella Valley city.

Riverside County, Calif.'s plans to sell $102 million in Teeter notes the week of Sept. 29.

New groundwater legislation signed by California Gov. Jerry Brown will benefit water agencies in the long run, but won't make much of a difference in mitigating current pressures caused by the state's drought, according to Fitch Ratings.

California's new groundwater laws are a credit positive for the state's economically struggling Central Valley region, according to Moody's Investors Service.

Orange County, Calif. registered voters surveyed by an opponent of a Foothill/Eastern toll road extension expressed skepticism about those extension plans.

California is making its debut into the "green bond" market next week with its $2.3 billion general obligation bond sale.