California

Moody's Investors Service has downgraded the rating on Redwoods Community College District to A1 from Aa2 and assigned a negative outlook.

In a response to an audit from the state controller's office, Stockton, Calif. officials said it did not provide any new information and instead slows down the city's recovery.

Fitch Ratings upgraded the state of California's general obligation bonds to A from A-minus citing improved financial management and revenue.

In an audit of Stockton's finances, California Controller John Chiang says city officials should have seen the warning signs of trouble that sent Stockton into bankruptcy.

The San Bernardino Public Employees Association could withdraw its opposition to the city's eligibility to be in bankruptcy if the two parties reach an agreement on the union's contract.

Richmond, Calif.'s plan to help homeowners avoid foreclosure will not likely be successfully implemented, according to Moody's Investors Service, but it's still credit negative for residential mortgage backed securities.

The Regents of the University of California is planning to sell $665 million of fixed and variable rate medical center pooled revenue bonds.

A Federal Bureau of Investigation spokeswoman confirmed a taskforce has been formed to investigate political corruption in Orange County, but no information has been released about the impetus or targets of the investigation.

The U.S. Bankruptcy Judge in the San Bernardino Chapter 9 case will appoint Gregg Zive, U.S. Bankruptcy Judge for the Reno, Nev., district, as mediator.

Peter Koht, Santa Cruz's economic development director, has left the department after four and a half years.

A bond restructuring underway by the Southern California Public Power Authority on $371.5 million in natural gas prepayment debt could result in ratings upgrades by two rating agencies if efforts are approved by bondholders.

California is planning to sell $5.5 billion of revenue anticipation notes in its annual cash flow borrowing deal in August.

Moody's Investors Service affirmed the Baa3 credit rating of a Lancaster-Calif.-based Antelope Valley Healthcare District that had been placed on review for downgrade.

Standard & Poor's has upgraded its rating on Santa Rosa, Calif.'s wastewater revenue bonds, citing its customer base and liquidity.

San Diego Mayor Bob Filner said during a press conference he will take two weeks off to undergo behavioral counseling, according to a live report from San Diego's ABC Channel 10 news.

Moody's Investors Service has downgraded San Francisco Community College on the possibility that it will lose its accreditation.

A trial date has been set for two lawsuits challenging rates set by the Metropolitan Water District, a Southern California water wholesaler.

The financing structure of Orange County Transportation Authority's $124 million refunding planned for Tuesday represents an evolution in financing for managed lane projects.

California's 2014 budget is a credit positive for the state's school districts, although some stand to benefit more than others, Moody's Investors Service said in a report.

The Orange County Water District board will study purchasing up to 50 million gallons of drinking water Thursday through the Huntington Beach Seawater Desalination Project.