California

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.

In the expensive aftermath of recent natural disasters, some local governments are working to mitigate the impacts of weather-related events that could occur in the future.

The pressure of meeting retirement obligations is likely to remain a major policy problem for many California cities, highlighted by the Stockton and San Bernardino Chapter 9 bankruptcies.

California's plan to build a $68 billion high speed rail system in the state is being challenged by two counties and a city, which say the plan violates the state's environmental laws.

A court ruling that California teacher tenure laws in California are unconstitutional could have positive credit implications for school districts, according to Standard & Poor's.

For the first time in six months, California's tax revenues have come in lower than expected, according to a report from State Controller John Chiang

The California Department of Finance scored a win in its court battle with San Bernardino over money transferred to the city following the dissolution of its redevelopment agency.

San Juan Unified School District, Calif. front-loaded its bond repayment schedule with short-term debt to make sures a larger share the general obligation bond levy taxpayers pay goes to principal instead of interest.

Los Angeles Unified School District will price a $1.7 billion refunding into a market hungry for new bonds on Thursday.

Moody's Investor Services on June 5 upgraded the California Educational Facilities Authority Pooled College and University Projects 1999B pool rating to Baa1 with a positive outlook.

A Los Angeles charter school received a junk rating of BB-plus with a stable outlook from Standard & Poor's ahead of a $35 million new money/refunding expected to price in June.