California

The downgrade of Kaweah Delta Health Care District's revenue bonds to Ba1 affected $218 million of debt.

If a recession comes in third quarter, the forecast's economists said it will be mild and brief for both the nation and California.

After big oil hiked gas prices and made record profits, Gov. Newsom convened a special session of the Legislature and called for a price-gouging penalty on oil companies.

The spiderweb of funding sources for natural disaster recovery makes it hard to track the actual costs to state and local government of fighting wildfires.

Total November volume stood at $19.712 billion, the lightest of any month year-to-date, in 527 versus $37.073 billion in 1,055 issues a year earlier, according to Refinitiv data.

The Legislative Analyst's Office forecasts the state could face a $25 billion deficit in fiscal 2023-24.

New Jersey has overtaken Los Angeles as the busiest port in the U.S. The port attributed the decline to labor negotiations and retailers placing holiday orders this summer to avoid the potential for supply chain issues.

Changes to the way people live in California have altered the trajectory of revenues for city coffers, but muni analysts and economists say cities are adapting.

The upgrades follow Fitch's upgrade of Morgan Stanley, the guarantor to the gas supplier in all of the transactions.

Fitch Ratings revised its outlook to stable from negative on BATA's AA-minus subordinate debt, retaining its stable outlook on AA-rated senior debt.