California

A process winding down California's redevelopment agencies remains complex and painful for successor agencies though a year has passed.

Poseidon Resources, the builders of a seawater desalination plant in California, pulled off a $734 million bond sale in the midst of a massive sell-off.

Standard & Poor's downgraded Denair Unified School District, Calif., to A from A-plus.

Moody's Investors Service affirmed Santa Barbara, Calif.'s Aa2 issuer rating, but downgraded to A1 from Aa3 the ratings for the city's 2002 certificates of participation and its 2009 airport revenue bonds.

The National Hockey League's lockout of its players, if not resolved, could impact ratings for the Staples Center arena in Los Angeles and the Pepsi Center in Denver, according to Fitch Ratings.

The Financial Industry Regulatory Authority has ordered five firms to pay $4.48 million for unfairly using bond proceeds to pay reimburse themselves for membership fees they paid to the California Public Securities Association, a lobbying group.

U.S. Bankruptcy Judge Meredith Jury Friday denied the California Public Employees' Retirement System's request to be allowed to sue San Bernardino in California state court over $6.9 million in missed pension payments.

In a report, Standard & Poor's found that most of the 202 California cities it rates made it through the recession with their reserves and credit quality intact.

Newly empowered with supermajorities in both houses of the Legislature, some California Democrats have introduced legislation that would increase borrowing and make taxing easier.

Los Angeles World Airports and Los Angeles Metropolitan Transportation Authority have overcome their differences and are working on a plan to connect light rail to the airport.

Bonds sold by Santa Cruz County's redevelopment agency could still be downgraded because of a dispute with the California Department of Finance over redevelopment revenue, according to Fitch Ratings.

California revenues in November were $840 million below the forecast in the state's budget mainly due to lower tax collections from Facebook's initial public offering, according to the Department of Finance.

Holders of bankrupt American Airlines' New York City airport debt are weighing a settlement offer that would pave the way for the carrier to assume its lease at John F. Kennedy International Airport.

An oversight panel chaired by California treasurer Bill Lockyer is analyzing the bond debt of the San Joaquin Hills Transportation Corridor Agency and the Foothill/Eastern Transportation Corridor Agency to determine if they can take on more debt to fund a planned extension.

The California Public Employees' Retirement System filed a motion requesting a hearing, scheduled Friday, to determine San Bernardino's Chapter 9 bankruptcy eligibility be postponed.

Bond market creditors filed final legal challenges on Friday to Stockton, Calif.'s petition for bankruptcy protection, laying the groundwork for a potentially precedent-setting legal battle.

The Los Angeles County Metropolitan Transportation Authority is at the forefront of a nationwide push to create a new tax-credit bond program for transportation investment.

The Poseidon Resources seawater desalination plant project experienced many delays, but the market for its BBB-minus project financing looks good now that Poseidon is ready to sell $781 million in bonds.

Union leaders are asking Los Angeles mayoral candidates if they might be willing to get rid of Chief Administrative Officer Miguel Santana, who has urged the city to keep its budget in balance.

Los Angeles Mayor Antonio Villaraigosa signed a 25-year agreement with the Moapa Band of Paiute Indians in Nevada for a solar energy project.