California

KNN Public Finance hired public finance veteran Mark Young to lead the firm's new office in Los Angeles and hired Erwin Tam as a vice president in the financial advisory firm's Oakland office.

California school districts could see their credit quality weaken if a bill that would cap the amount of funds they can keep in reserves gets approved in November.

Despite widespread agreement that Los Angeles County's main jail is obsolete, there is far less consensus about what to do about it, though any answer is likely to be expensive.

Moody's Investors Service on Wednesday upgraded California to Aa3 from A1, based on its improved fiscal position.

Barbara Liebert, executive director at the California Health Facilities Financing Authority, is leaving her post to join State Controller John Chiang's office.

San Bernardino, Calif., leaders failed to pass a budget at Monday night's council meeting, postponing a vote to June 30 – the last day of the fiscal year.

California Gov. Jerry Brown on Friday signed a controversial budget trailer bill that would cap the amount of funds that school districts can keep in reserves.

Fitch Ratings has affirmed El Rancho Unified School District, Calif.'s general obligation bond rating at A and has removed a negative watch impacting $13.8 million in bonds.

Seleta Reynolds of the San Francisco Department of Transportation was nominated Friday by Los Angeles Mayor Eric Garcetti to be the next general manager of the Los Angeles Department of Transportation.

San Bernardino's firefighters union has replaced the California Public Employees' Retirement system as the most adversarial creditor in the city's Chapter 9 bankruptcy.

Gov. Jerry Brown signed California's budget for 2014-15 Friday morning, less than a week after it was approved by the state legislature.

A recent proposal to extend an accreditation review is a positive development for San Francisco Community College District, according to Fitch Ratings.

San Bernardino announced Thursday morning that it has reached a tentative agreement with the California Public Employees' Retirement System on missed payments included in the city's Chapter 9 bankruptcy filing.

Los Angeles achieved the highest short-term ratings for the $1.36 billion tax and revenue anticipation note it plans to price on June 25-26, according to Natalie Brill, the city's debt manager.

Veteran banker Diane Cummings has been appointed chief credit officer at the California Infrastructure and Economic Development Bank.

C.M. de Crinis, a Glendale, Calif. based financial advisory firm, hired veteran public finance banker Richard Kiss to cover Northern California. Kiss said the move was prompted by changes to municipal advisor regulations.

The California legislature approved a budget ahead of the constitutional deadline for the fourth year in a row.

Moody's Investors Service deemed a California Superior Court judge's ruling that existing teacher tenure and seniority laws are unconstitutional a credit positive.

The Internal Revenue Service has determined in an audit that general obligation bonds issued in 2007 and 2009 by the Sierra Kings Health Care District in California are private-activity bonds and not tax-exempt governmental bonds.

As state and local governments make efforts to prepare for climate change, credit analysts are watching closely to see how impacts from weather-related events might affect credit quality.