California

The San Francisco Municipal Transportation Agency raised $63.8 million last week from the sale of revenue bonds during its first foray ever into the municipal bond market.

Moody's Investors Service said in a report Monday it will maintain its Aa2 rating on Los Angeles Department of Water and Power water system revenue bonds.

California Gov. Jerry Brown signed a bill Wednesday that authorizes $4.7 billion, partly from the sale of bonds, to start construction of a high-speed intercity passenger rail network.

California's June revenues came in 5.6%, or $622 million, above the forecast in the enacted budget, according to the Department of Finance.

Budget balances for states remain too low relative to annual expenditures, according to the National Governors Association and National Association of Budget Officers.

Compton, Calif. is facing serious cash flow problems that could force the city to declare bankruptcy, the city's elected treasurer said Tuesday.

A new California law meant to "clean-up" problems from the shutdown of the state's redevelopment agencies may be making things worse for some local governments.

California should brace for more municipal bankruptcies as its local governments continue to strain under the weight of national and local economic policies, according to experts.

San Bernardino's City Manager said Thursday the city is still considering plans on whether to declare bankruptcy or to enter mediation with creditors.

Fitch has downgraded the Baldwin Park Financing Authority, Calif.'s sales tax and tax allocation bonds to BB from BBB.

California Controller John Chiang said in report that the state ended the fiscal year with a $1.4 billion shortfall that was $1 billion less than expected.

Fitch Ratings downgraded San Francisco Community College District three notches due to concerns about its accreditation.

San Bernardino's surprise decision to file for bankruptcy, becoming the third California city to do so in less than a month, has shaken the municipal market and set up a likely showdown with bondholders.

In the aftermath of financial guarantees by Scranton, Penn. and Stockton, Calif. recently contributing to the cities' defaults, the Government Accounting Standards Board is seeking to improve the visibility of these guarantees.

California's general obligation bond sales are set to swell to $6 billion this fiscal year due in part to the sale of high-speed rail bonds.

In a vote California officials said was key to the future of its ambitious high-speed passenger train project, the state Senate voted Friday to move forward with the line.

Northeast public officials are glancing westward for any precedent that could emerge from that northern California city's bankruptcy filing.

California Controller John Chiang will appeal a ruling that he cannot withhold lawmakers' pay for passing an unbalanced budget.

Moody's Investors Service downgraded City of Industry, Calif. sales tax revenue bonds to A1 from Aa2 Monday.

A ratings downgrade demonstrates Fresno, Calif. city employee unions need to be more flexible at the bargaining table, said City Manager Mark Scott.