California

California's budgetary condition is stronger now than it has been in the past decade, according to a report released by the Legislative Analyst's office on Wednesday.

Stockton is poised to exit Chapter 9 bankruptcy in March 2014, but not without a fight with its last major creditor, Franklin Advisers, over $35 million of the city's lease revenue bonds.

Standard & Poor's upgraded the rating on California's economic recovery bonds to AA from A-plus, with a stable outlook.

The Desert Hot Springs, Calif., City Council voted unanimously to declare a fiscal emergency, the first step in the state's process leading to filing for municipal bankruptcy, according to news reports.

Republican Kevin Faulconer and Democrat David Alvarez will face-off in a run-off election on Feb. 11 to replace San Diego Mayor Bob Filner who was forced from office following a sexual harassment scandal.

Fitch Ratings on Monday lowered the ratings to junk on slightly more than $100 million of San Ysidro, Calif., school district debt deeming it likely that the state could take over the school district.

FirstSouthwest, a Texas-based broker-dealer and financial advisor, has protested two request for proposals for financial advisors issued by Los Angeles that bar underwriters from applying.

During a hearing Monday, a U.S. bankruptcy judge set the trial date to hear Stockton, Calif.'s bankruptcy exit plan in March.

Moody's Investors Service has downgraded the rating on Lake Tahoe Unified School District's general obligation bonds to A1.

The nation's mayors are urging Congress to avoid "manufactured crises" like another federal government shutdown because cities are struggling more economically this year than last.

Bankruptcy Judge Meredith Jury rejected another California Public Employees' Retirement System request for a direct appeal to the U.S. Ninth Circuit Court of Appeals on San Bernardino’s bankruptcy eligibility.

An adverse vote from the California Coastal Commission will delay Poseidon Water's plans for a Huntington Beach desalination plant by up to a year.

Morgan Hill, Calif., is implementing special tactics in its $88 million refunding sale of tax allocation bonds in order to make the redevelopment debt more attractive for investors.

An Escondido, Calif. charter school foundation that went into technical default on its bonds in July 2012 has received an improved outlook for its BB-minus rating from Standard & Poor's.

Los Angeles Department of Airports bonds received a healthy reception as the operator of Los Angeles International Airport hits the halfway mark on a $7.2 billion modernization project.

During a board meeting Wednesday, the University of California's new president proposed a tuition freeze for the next academic year in order to keep costs affordable.

Standard & Poor's raised its rating to AAA from AA-plus with a stable outlook on Mesa Water District, Calif.'s subordinate-lien series 2010 revenue certificates of participation.

Desert Hot Springs, Calif. officials avoided steps that would lead to its second Chapter 9 bankruptcy during a special meeting, but the city hasn't resolved its fiscal crisis yet.

The California State Public Works Board is leading the new issue calendar this week with a $625 million sale of lease revenue bonds scheduled for Thursday.

The California Public Employees' Retirement System wants to skip steps in its appeal of the order granting San Bernardino, Calif., the eligibility to be in Chapter 9 bankruptcy.