Nevada

The three states that rely on the Colorado River for their water supplies will not face federal rationing in 2016, a fact that is credit positive for bond issuers in the region, according to Moody’s Investors Service.

Far West issuers sold $48.3 billion of municipal bonds in the first half of 2015, a 70% increase from the first six months of 2014 that was driven by refundings.

Standard & Poor’s revised its outlook to stable from negative and affirmed its BB long-term rating on North Las Vegas, Nev.’s limited-tax general obligation debt.

Brian Sandoval, Nevada's Republican governor, overcame critics in his own party to push through a tax package that is expected to steer the state onto sounder fiscal ground.

The Internal Revenue Service is auditing general obligation refunding bonds issued in 2006 by the Clark County School District in Nevada.

Moody’s Investors Service upgraded the Las Vegas Valley Water District’s general obligation limited tax debt a notch to Aa1 ahead of a May bond issue.

Fitch ratings has revised the outlook to stable from negative for $414.4 million of North Las Vegas, Nev., bonds, and affirmed the rating at B.

Las Vegas Monorail bondholders have until April 7 to take advantage of an Ambac tender offer that offers a better-than-anticipated recovery.

Issuers in Colorado and Nevada separately disclosed this week that the Internal Revenue Service is conducting routine audits of bonds they issued in 2006.

Renown Regional Medical Center, a Reno, Nev. hospital, received a one-notch rating upgrade to A from A-minus based on its improved financial profile and changes Standard & Poor's made to the way it rates stand-alone hospitals.

The Internal Revenue Service has begun auditing limited-tax general obligation, medium-term street bonds issued by Reno, Nev., in 2009.

The substitution of new letters of credit caused Standard & Poor's to boost the long-term ratings on some Clark County, Nevada airport system subordinate-lien revenue bonds issued for Las Vegas McCarran International Airport.

An expectation that Nevada will use reserves to bridge a budget shortfall means a step backward for the state at a time when other states are building reserves, according to a Moody's Investors Service credit outlook.

Nevada's new Republican majority in the state legislature and Republican Gov. Brian Sandoval are facing a budget shortfall and anemic revenues that could test anti-tax increase pledges as Sandoval hints at reforms to the tax structure.

The Las Vegas Valley Water District snared Double A ratings ahead of plans to price up to $339 million in a general obligation bond limited tax refunding on Dec. 11.

Agencies in Arizona, California and Nevada are expected to agree on reduced consumption of water from Lake Mead as a 14-year drought continues to lower the reservoir toward a level that requires federal restrictions.

Moody's Investors Service affirmed Clark County, Nevada's Aa1 rating ahead of plans to price $100 million in general obligation limited tax flood control bonds on Nov. 20.

Incumbent Nevada Gov. Brian Sandoval led a sweep of top state offices that resulted in Republicans taking control of the state Assembly and Senate.

Nevada made a splash earlier this year with plans for its biggest P3 yet. Now the state has reversed course after finding it would be less expensive to manage and fund the project itself.

The Far West Region mirrored the U.S. with municipal bond sales dropping 24.8% during the first half of 2014 compared to the same period a year earlier.