California

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.

The California Legislature won't act on pension reform ahead of its summer recess.

A new civil grand jury report provides a new view of Victorville, Calif.'s convoluted finances, raising questions about the way the high-desert city uses bond proceeds.

Mammoth Lakes, Calif., is set to become the second California municipality in as many months to file for bankruptcy protection after negotiations with its largest creditor failed.

Stockton's filing for bankruptcy protection Thursday has already sparked a war of words between the city and one of its largest creditors.

Standard & Poor's said its rating and outlook for California will not be impacted by the enactment of the state's $91.3 billion general fund budget.

Stockton, Calif. formally filed for Chapter 9 municipal bankruptcy Thursday.

A feud between San Jose and Santa Clara County, Calif. over redevelopment tax money that may have led to defaults and has spread uncertainty across the sector appears to have ended.