California

Gov. Jerry Brown signed a bill into law on Wednesday that will expand an existing law to require California debt issuers to disclose any direct loans from banks to the California Debt and Investment Advisory Commission.

Fitch Ratings has upgraded the ratings on more than $1 billion of outstanding revenue bonds issued for Stanford Hospital & Clinics.

Former Assembly Speaker John A. Pérez, D-Los Angeles, officially bowed out of the race for California's next controller after calling off the recount of votes from the primary election.

California's new water usage restrictions are a credit negative for water utilities throughout the state, according to Moody's Investors Service.

The Contra Costa County, Calif. civil grand jury found that seven of its school districts have issued capital appreciation bonds in the last ten years, and is urging them not to sell any more.

Providence Health & Services priced a deal to finance acquisition of a California hospital, an example of the consolidation trend in healthcare as hospitals grapple with financial pressures wrought by the federal healthcare law

Fitch Ratings on affirmed its AAA long-term rating and F1-plus short-term rating on the credit enhancement program sponsored by the California Public Employees' Retirement System.

The Alameda Unified School District board of education gave the go ahead for a $180 million general obligation bond for school improvements to go on the November ballot.

A ruling that Stockton's pension obligations can be treated the same as other contracts in municipal bankruptcy would have significant impacts on some local government bondholders in California, according to Moody's Investors Service.

Bankruptcy court filings indicates mediation dates have been set for insurers to wrap San Bernardino's bonds to negotiate their fate in the city's Chapter 9 bankruptcy case.

For the first time since 2007, California ended the fiscal year with a positive cash balance in its general fund, according to State Controller John Chiang.

Ceding to the city, the San Bernardino Police Officer's Association decided not to ask the bankruptcy judge to set a deadline for the city to file a plan of adjustment in a filing Monday.

The California Legislature has adjourned for summer recess this month after failing to reach a compromise on a multi-billion water bond to place on the November ballot.

The Long Beach Community College District in California is seeking a settlement with the Internal Revenue Service because of a private-activity bond problem with bonds it issued in 2008.

Bond lawyers and issuers are frustrated that the Securities and Exchange Commission did not specify the disclosure failures that led to its settlement with a California school district on Tuesday. They said it leaves them with no helpful guidance on what kinds of disclosures the SEC is focusing on in its Municipalities Continuing Disclosure Cooperation voluntary enforcement initiative.

California's drought conditions didn't impact Metropolitan Water District of Southern California's bond ratings ahead of its plans to refund $122 million in 2014 water revenue refunding bonds on July 21.

Moody's Investors Service on July 7 downgraded Coachella Valley Unified School District, Calif.'s general obligation bonds to A2 from A1 ahead of plans to refund $30 million on July 24.

A Stockton bankruptcy court hearing provided clarity on collateral involved in the case, and hints about the judge's thoughts about the city's pension liabilities, but decisions on the city's exit plan will wait until October.

Former Assembly Speaker John A. Pérez has filed a request for a recount of votes in the California primary election for state controller, after preliminary numbers show him coming in third place by a very slim margin.

If approved, a proposal to cap the amount of money California school districts can keep in reserves would have neutral to negative credit implications on districts, according to Standard & Poor's.