California

Moody's Investors Service downgraded bankrupt Stockton, Calif.'s pension obligation bonds to Ca from Caa3 and changed the outlook to negative from developing.

Roseville Finance Authority in California received an A-plus rating and stable outlook from Fitch Ratings ahead of plans on Oct. 17 to price $74.5 million in electric system revenue refunding bonds.

Los Angeles Unified School district officials are slated to present a five-year budget plan to the school board and bond oversight committee at separate meetings at the end of this month that should flesh out $1 billion plans to purchase iPads for every student.

San Diego's proposed $520 million convention center expansion cleared its final regulatory hurdle when it was unanimously approved by the California Coastal Commission.

More issuers are starting to turn to direct lending for new money borrowings, in addition to refundings, according to speakers at The Bond Buyer's California Public Finance Conference.

Standard & Poor's upgraded San Francisco's general obligation bond to AA-plus, its highest rating in the city’s history, according to Mayor Edwin Lee.

San Bernardino, Calif.'s attempt to use bankruptcy to win a dispute with the state over dissolution of its redevelopment agency appear likely to fail.

California Gov. Jerry Brown signed a bill exempting the state's transit workers from pension reform while suing the federal government for blocking pension reform for those workers.

Stockton's proposed bankruptcy plan provides clarity on recoveries of certain of the city's obligations, but some questions remain, according to Moody's Investors Service.

Robert Rizzo, Bell's former city manager, pleaded no contest Thursday to 69 counts that he defrauded Bell, Calif. of millions of dollars.

Stockton, Calif. received the green light from its city council on its bankruptcy exit plan after reaching a deal with bond insurer Assured Guaranty.

Geraldine Knatz, executive director of the Port of Los Angeles, announced Thursday, that she will be retiring at the end of the year.

Public Financial Management announced Thursday that it has expanded its higher education practice in the Los Angeles office.

The recently signed bill to curb California school districts’ issuance of capital appreciation bonds is a credit positive for the districts, according to a report from Fitch Ratings.

A court ruling that overturned a freeze on retiree healthcare cost inflation in Los Angeles could be a credit negative for state and local governments, according to Fitch Ratings.

A federal appeals court ruling in a case brought by investors should set a favorable precedent for municipal bond issuers, said an attorney for Alameda, Calif., which prevailed.

Speakers at The Bond Buyer's California Public Finance conference suggested tax reforms to stabilize the revenue volatility seen as contributing to the state's single-A ratings.

Fitch Ratings downgraded Cerritos Community College District from AA-plus to AA with a stable outlook impacting $57.5 million in bonds.

California Gov. Jerry Brown signed a bill that establishes parameters for school and community college bond capital appreciation bond issuances.

California is planning to sell $2 billion of new money and refunding general obligation bonds this month, according to the state treasurer's office.