California

The state's largest healthcare district by land mass is at risk of breaching financial covenants, according to Moody's Investors Service.

"I think we are starting toward higher volume," said Raul Amezcua, senior director at Samuel A. Ramirez & Co.

Robert Poole, a leading expert in the U.S. public-private partnership transportation sector, joins infrastructure reporter Caitlin Devitt to talk about upcoming deals including toll lanes and bridges in the Southeast and high speed rail in the West as well as states that are advancing P3s and action on the federal front. (37 minutes)

The proposed $1 billion bond measure would fund port improvements needed to push the state's nascent offshore wind power industry forward.

The rating agency cited traction on its financial turnaround in revising the outlook on the junk-rated hospital to stable from negative.

The sale of the bonds allowed ACTA to reshape its debt service profile and avoid projected debt service shortfalls by refunding into capital appreciation bonds and extending maturity dates.

The broker-dealer expands by creating its newly established public finance group in California.

Los Angeles alone reported more than 500 mudslides from a storm that deluged the city for days.

Fitch Ratings downgraded the private-activity bonds supporting LAX's people mover bonds to junk, but said they could fall lower if the airport doesn't reach an agreement on delay concessions.

California voters will weight a $6.4 billion bond measure in March that redirects money from an existing millionaire's tax supporting mental health programs.

Issuance for the month is slightly above the $27.666 billion 10-year average, according to LSEG Refinitiv data.

A private school catering to Los Angeles' wealthiest residents is tapping the municipal bond market to expand its campus and add to its academic offerings. 

Despite fixed-income seeing losses this month, Jeff Lipton, managing director of credit research at Oppenheimer, believes "a performance sea change is nearing."

After the year-end rally, "2024 bond investors have been reluctant buyers, prices creeping lower perhaps until the data and the Fed's next steps are more clear," said Matt Fabian, partner at Municipal Market Analytics.

Brightline, a high-profile name in the speculative muni market, is set to come to market next week to remarket $675 million of 2020 bonds.

A California Department of Water Resources spokeswoman said the department is considering an appeal of the Superior Court judge's decision.

Growing new-issue supply is "adding to bidders' 'wait-and-see' mentality with a variety of credits coming to market at favorable spreads," said FHN Financial's Kim Olsan. Next week's calendar hits $8.4 billion.

VTA's auditor general dinged project managers for misleading communications and a "breach of transparency" regarding cost overruns and delays on the $12.2 billion San Jose extension of a Bay Area Rapid Transit line.

Altadena, California-based Episcopal Communities & Services for Seniors was able to sell bonds through a treasurer's conduit thanks to the new state law.

The top five bond financings have an average dollar volume of more than $917 million.