California

Los Angeles County plans to market $1.1 billion of tax and revenue anticipation notes on July 2.

Moody’s Investors Service last week downgraded Azusa, Calif.’s long-term issuer rating to A2 from Aa3, affecting $3.25 million of rated debt, and assigned a negative outlook.

California’s Golden State Tobacco Securitization Corp., the entity that issues bonds secured by the state government’s settlement with cigarette companies, will again have to dip into reserves come December to make interest payments.

The Golden State Warriors basketball franchise has announced plans to relocate to San Francisco in 2017, a move that will leave their current landlords in Oakland still facing bond payments on the team’s current home.

The Stockton City Council will decide next week whether to give its city manager the power to declare bankruptcy if it is unable to get enough concessions from creditors before the end of June.

SAN FRANCISCO — California's Legislative Analyst's Office said Gov. Jerry Brown's proposed budget policies could lead to a balanced budget within a few years.

Siebert Brandford Shank & Co. has boosted its ranks in California with the addition of an office in San Diego and top brass in its Los Angeles (Brian Corley) and Oakland (Anand Kesavan and Steven So) offices.

Moody's Investors Service downgraded to A2 from Aa3 the long-term issuer rating for Azusa, Calif. Analysts also lowered the rating for the city's 2003 lease revenue refunding certificates of participation to Baa1 from A2. A negative outlook was assigned.

With its former leadership mired in corruption charges and a new slate of City Council members and mayor in place, the next order of business for Bell, a Los Angeles-area working-class city of 50,000, is to adopt a workout plan for outstanding bond debt issued under previous city management.

Firms that work as financial advisors helping California school districts issue bonds after serving as campaign consultants on the preceding bond measure have a conflict of interest and are engaged in a form of "pay-to-play," critics say.

The California Assembly approved a bill on Monday aimed at expediting Los Angeles County transportation projects.

Los Angeles Mayor Antonio Villaraigosa is adding parking to his efforts to create a legacy impact on transportation.

The California Legislative Analyst’s Office has said it makes sense for Gov. Jerry Brown to use $411 million for the budget from the state’s share of a nationwide settlement with five major banks over illegal foreclosures.

The Los Angeles Department of Water and Power heads to market Wednesday to refund $276.8 million of water bonds.

LOS ANGELES — The Los Angeles City Council passed a $7.2 billion budget Monday that largely preserved austerity measures proposed in the mayor’s budget.

SAN FRANCISCO — Stockton, Calif., officials said Monday creditors have agreed to extend talks on how to keep the city out of Chapter 9 bankruptcy.

SAN FRANCISCO — The San Francisco Public Utility Commission will hit the market with $686 million of revenue bonds as it continues to raise billions for a seismic upgrade of its water system.

LOS ANGELES — Common Bond Capital Partners LLC, a five-month-old San Diego-based firm targeting distressed municipal bonds, has hired a public finance expert who specializes in structured financing to round out its team.

SAN FRANCISCO — California's nonpartisan Legislative Analyst's Office released a report Friday on Gov. Jerry Brown's May Revise budget, calling the governor's economic and revenue forecast reasonable but questioning how much the state will reap from the end of redevelopment.

In American ports, the expansion of the Panama Canal is the elephant in the room. East Coast and southern U.S. ports see the Panamanian expansion, allowing it to handle larger ships by the middle of the decade, as their chance to woo business away from the Port of Los Angeles.