California

LOS ANGELES - The San Diego Unified School District, despite double-A ratings, has put California lawmakers on notice that if proposed trigger cuts are implemented, it could be facing insolvency in the next two years.

SAN FRANCISCO - With Moody's Investors Service dropping Fresno three notches to A2 from Aa2 on Thursday, the California city's membership in the "super downgrade" club has now been affirmed by all three credit rating agencies.

SAN FRANCISCO - A California health care district is swaying once again on the edge of bankruptcy after emerging from Chapter 9 protection only three years ago.

Standard & Poor’s lowered its rating one notch on $35 million of outstanding bonds issued for Casa Colina Inc. and Affiliates to BBB from BBB-plus.

The Children’s Hospital of Orange County received A ratings from Fitch Ratings and Standard & Poor’s on $105 million of fixed-rate bonds expected to sell on Oct. 24.

The California Supreme Court said it will hear arguments Nov. 10 in San Francisco in a case that will likely decide the future of redevelopment agencies in the state.

Gov. Jerry Brown says he will be proposing specific reforms to California’s pension system.

The mayor of Santa Ana, Calif., dismissed reports that the city - facing a $24 million deficit in 2012 - is on the verge of bankruptcy.

SAN FRANCISCO - Lower-than-expected revenues could trigger budget cuts in California this year, with one rating agency saying that the revenue outlook is a credit negative.

San Francisco-based Catholic Healthcare West, which operates 40 hospitals throughout California, Nevada and Arizona, is planning a $645 million new-money and refunding deal next week.

California's economy still has some cracks, but its strengths — including its diversity of industries — are starting to overshadow weaknesses such as the high cost of doing business in the state, according to speakers at the Milken Institute State of the State Conference 2011.

SAN FRANCISCO - San Francisco has started a program to finance energy efficiency in commercial buildings through loans backed by property taxes.

Fitch Ratings has placed $1.7 billion of San Jose Redevelopment Agency tax allocation bonds on rating watch negative.

California’s budget situation became more precarious this week after revenues again fell short of projections in the budget.

SAN FRANCISCO - California Gov. Jerry Brown has signed one budget reform bill and vetoed another, while hinting that more change is on the way.

SAN FRANCISCO - California Gov. Jerry Brown has signed legislation imposing new requirements local governments must meet before declaring bankruptcy.

SAN FRANCISCO - California has received a favorable private-letter ruling from the Internal Revenue Service that will allow it to remarket Build America Bonds this month while keeping the federal subsidy.

LOS ANGELES - Fitch Ratings could cut bond ratings on the National Basketball Association, Los Angeles' Staples Center, and Denver's Pepsi Center if the NBA fails to reach an agreement with players and cancels the season.

The Jurupa Unified School District in Riverside County received a AA-minus and stable outlook from Fitch Ratings for $21.8 million of new general obligation refunding bonds.

Standard & Poor’s downgraded Fresno’s issuer credit rating three notches, to A from AA, the agency said in a report Monday.