California

Federal, state and local elected officials joined LA Metro in announcing the receipt of a $1.25 billion full funding grant agreement from the Federal Transit Administration for its Purple Line subway extension.

The California Public Employees' Retirement System requested another extension to file court documents in its appeal of San Bernardino's eligibility to be in bankruptcy citing progress made in the confidential mediation.

Underwriter Citi terminated a $265 million bond deal after an Anaheim, Calif. activist organization filed a lawsuit May 12 seeking to invalidate the bonds, which were to finance a convention center expansion.

Gov. Jerry Brown’s proposal to solve the California State Teachers' Retirement System underfunding could have long-term positive effects, but could pressure school districts in the near-term.

The California legislature’s approval of a new rainy day fund measure is a credit positive, according to Moody's Investors Service.

The confirmation hearing to determine if Stockton can emerge from bankruptcy will go into a fifth day, on June 4, to allow more time to hear arguments, according to the case judge.

Moody's Investors Service upgraded the ratings on University of La Verne, Calif. a notch to Baa1 with a stable outlook affecting $88.4 million in debt.

Stockton, Calif. heads into the final day of its scheduled four-day trial to determine if it can emerge from Chapter 9 bankruptcy.

California Governor Jerry Brown released his revised budget proposal for California on Tuesday morning, which includes $11 billion to pay down the state's debt.

California should focus on addressing more of its $340 billion in long-term debt obligations, according to a recent report from the Legislative Analyst's Office.

A recent ruling from the California Supreme Court not to review an decision on other post-employment liabilities is a credit positive for California local governments, though challenges remain, credit rating agencies say.

California tax revenues came in at almost $14 billion for the month of April, beating estimates by $300 million, according to a report from the state controller, John Chiang.

In what could be the final chapter in its Chapter 9 proceedings, Stockton will head to court next week to try and convince a U.S. bankruptcy judge that it has a recovery plan that will work.

San Francisco is proposing a $500 million general obligation bond as part of a $1.5 billion transportation package for the November ballot.

California Gov. Jerry Brown's new rainy day fund proposal could help improve the state's credit quality, according to a report from Standard & Poor's.

As California's housing market recovers, property tax payments for some will likely increase by more than 10% for the next several years, causing local property tax revenues to grow, according to California's legislative analyst's office.

The California Public Employees' Retirement System has filed a friend of the court brief in support of appeals to Detroit's eligibility to be in bankruptcy.

Moody's Investors Service has issued a report stating the proposal by a commission calling for external rate regulation and greater oversight of the Los Angeles Department of Water and Power would be credit negative if implemented.

Fitch Ratings said it could upgrade the ratings on tax allocation bonds issued by former redevelopment agencies based on some positive effects of dissolution legislation.

Huy Fong Foods, maker of the popular Sriracha sauce with the Rooster emblem, appears to be winning a battle in the court of public opinion with Irwindale, Calif. over odor complaints.