California

The shutdown of a major California hydroelectric power facility underscores the severity of drought conditions in the state.

A project that dealt municipal bond investors one of the biggest high-yield defaults of the past decade is about to ask them for more cash

The city has issued a second set of bonds to fund 266 housing units that are the first of some 8,000 planned on adjoining islands in the San Francisco Bay.

July volume was $31.9 billion keeping the annual pace ahead of last year's record-breaking total. Issuance still lags demand by a large amount — $60 billion by many accounts for August alone — as redemptions coupon payments pile up.

The question looms as to what point heightened wildfire activity becomes a significant risk for municipal debt.

A double-digit return will trigger a reduction in the California Public Employees’ Retirement System's discount rate under a risk mitigation policy.

The Fitch Ratings upgrade applies only to GO debt — the city's issuer default rating remains AA-plus. The GOs benefit from California’s 2016 statutory lien law.

S&P Global Ratings gave California an elevated risk in the environmental category on an ESG scorecard, partly because of wildfire risks.

The agreement sets milestones for the project, expected to halve border wait times, to be completed by 2024.

Brightline Holdings will wait until 2022 to try again to finance a passenger train to Las Vegas from Southern California with tax-exempt bonds.