California

Standard & Poor's June 2 raised its long-term and underlying rating to AA-plus from AA on San Bruno, Calif.'s pension obligation bonds and certificates of participation, impacting nearly $23 million in debt.

Los Angeles Mayor Eric Garcetti launched a Great Streets initiative by announcing on June 3 the first 15 streets that will be targeted in the city.

San Francisco Mayor Ed Lee released his spending plan for the next two years, which includes a $500 million general obligation bond, and investing $94 million in affordable housing projects.

The Securities and Exchange Commission's voluntary self-disclosure initiative sparked questions during a California Debt and Investment Advisory Commission webinar.

Bert A. Betts, who served as California's state treasurer in the 1950s and 1960s, has died at age 90.

San Pablo, Calif., acting as successor agency to its former redevelopment agency, is planning to a $52 million refunding deal to save millions in debt service payments.

The Southern California Logistics Airport Authority is using tax increment distribution revenue to cure most bond defaults, but will default on new payment, according to a document posted on EMMA.

Gov. Jerry Brown's revised proposal to change infrastructure financing district law needs more work in order to be useful, according to the League of California Cities.

The decade-long process leading to the construction of the new $1.26 billion Gerald Desmond Bridge to serve the Port of Long Beach, Calif. is gathering steam.

Mayor Eric Garcetti has nominated Gene Seroka, an executive with APL shipping line, as executive director of the Port of Los Angeles.

Los Angeles is moving ahead with an alternative plan to expand its convention center given fading plans for a National Football League stadium at the location.

Moody's Investors Service has downgrade Hastings College of the Law to A2 from A1.

The Los Angeles City Council approved a $8.1 billion budget that ramps reserves up to roughly 7% of the budget and restores few services.

If Gov. Jerry Brown's budget proposal gets through the state legislature, California will be on track to continue its fiscal recovery, market experts say.

The Los Angeles Department of Water and Power is anticipating strong demand and tight spreads when it prices $322 million in power revenue bonds on May 28-29.

The California drought will have negative impacts on agriculturally-dependent areas, but will not impact the credit quality of the state and local governments, according to Moody's Investors Service.

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.