California

San Bernardino was granted extra time by a U.S. bankruptcy judge to make its case for bankruptcy at a hearing held Monday.

California Treasurer Bill Lockyer's office said underwriters involved in "egregious" local capital appreciation bond deals will likely be cut out of state bond business in the spring unless the debt is restructured.

Fitch Ratings said potential trigger cuts in California could result in more school district downgrades over the next few years.

Fitch Ratings downgraded $572 million in debt issued for Loma Linda University Medical Center one notch to BBB-minus, the lowest investment grade rating

The San Diego County Water Authority board could vote as soon as Nov. 29 on a $3 billion water purchase agreement with Stamford, Conn.-based Poseidon Resources, the private developer of a Carlsbad, Calif. seawater desalination plant.

The Los Angeles City Council instructed city attorneys to craft four ballot measures that would raise property, real estate, parking and sales taxes.

Public employee unions said they will go to court to try to block the Contra Costa County retirement system board from implementing anti-spiking provisions

Compton, Calif. will place a TRAN with an unnamed lender as a way around the issues that have prevented the city from getting the short-term debt it needs to make its late CalPERS payments.

The California Public Employees’ Retirement System sued Compton, Calif. for missed retirement and healthcare payments totaling $2.6 million.

San Diego opted into two competing Property Assessed Clean Energy programs for commercial properties, both of which hope to issue bonds by early next year.

State's September revenues came in $147 million below budget estimates, leaving a $379 million gap year to date.

Just a week after Moody's Investors Service included Los Angeles on a list of 32 cities with bonds on watch for downgrade, city officials are contemplating 259 layoffs.

Huntington Park, Calif. redevelopment and pension obligation bonds took a ratings hit Thursday after the city relied on a reserve surety to make a Sept. 1 debt payment.

Moody's says downgrades possible if California tax increase measures that would increase school funding fail in November.

City of Hope, a Los Angeles County research hospital, received a bump from a stable to positive outlook on its A1 Moody's rating.

California Governor Jerry Brown appointed Jay Hansen to the California Health Facilities Financing Authority.

Atwater, Calif. continued working to avoid bankruptcy when its city council adopted a financial plan to help close an estimated $3.3 million deficit

If either of the judges overseeing bankruptcy cases for two California cities allows CalPERS, the state's pension system, to be included on a list of creditors it could encourage other cities to declare bankruptcy.

The California Treasurer's Office clarified statements Treasurer Bill Lockyer made that appeared to call into question the legality of the commonly used certificate of participation debt structure.

No one can be certain, at this point, if more distressed cities in California will follow the path of Stockton, San Bernardino and Mammoth Falls, and file bankruptcy.