Nevada

Faced with the nation's highest foreclosure and unemployment rates, Nevada political leaders decided last year that they needed a plan to not only vault the state out of its current economic trough, but flatten out the peaks and valleys of its boom-and-bust economy.

Moody’s Investors Service on Tuesday affirmed Nevada’s Aa2 rating and stable outlook.

U.S. Rep. Shelley Berkley, D-Nev., says she plans to introduce a bill to protect the deduction for state sales taxes, since Congress has failed to extend the tax break that expired at the end of 2011, according to published reports.

LOS ANGELES -The motto of the Las Vegas Monorail must be, "If at first you don't succeed, try, try, try - and try again," after submitting its fourth amended plan to exit bankruptcy.

For the most part, economic indicators show that Nevada, one of the state’s hit hardest by the wave of home foreclosures in recent years, has been pulling itself out of the muck.

RED, the developer of the Outlets at Legends in Sparks, Nev., has defaulted on $141 million in private loans used to construct most of the 148-acre retail development, according to published reports.

Nevada Treasurer Kate Marshall has been elected the 2012 president of the National Association of State Treasurers.

Two northern Nevada shopping centers that were developed using sales tax anticipation revenue bonds have been forced to draw down reserves to meet bond obligations.

The Reno, Nev., Redevelopment Agency's financial woes had little impact on Moody's Investors Service's decision to downgrade the city of Reno's general obligation limited-tax bonds a notch to Aa3 from Aa2 and give them a negative outlook, analysts said.

Moody’s Investors Service downgraded the special obligation revenue bonds of an Overton, Nev., power district from A1 to A2 following a rate covenant default caused by weak financial conditions, according to a rating report.

The Washoe County, Nev., Commission has approved an ordinance to create a bond bank despite concerns from opponents about potential risks to the county's AA bond rating.

Nevada revenue projections came in $21.2 million higher than expected, signaling that the state might not have to take out a $160 million line of credit to balance next year’s budget, according to the Las Vegas Review-Journal.

Standard & Poor’s lowered its rating on Henderson’s general obligation debt one notch to AA from AA-plus and assigned a negative outlook.

LOS ANGELES — A proposal to create a bond bank in Washoe County, Nev., has critics worried that the county would needlessly put its double-A credit ratings at risk.

North Las Vegas could face a budget shortfall of more than $15 million next year unless employee unions again agree to substantial concessions, according to published reports.

LOS ANGELES - A judge rejected the Las Vegas Monorail Co.'s third amended plan to exit bankruptcy on Friday even though 97% of the bondholders voted in favor of it.

Standard & Poor's Tuesday lowered its ratings on $36.5 million of outstanding debt held by the Reno Redevelopment Agency.

LOS ANGELES - The Reno Redevelopment Agency in Nevada recently went into technical default on a bond issue, and its larger fight for solvency has triggered a funding squabble with Washoe County.

Fitch Ratings dropped its rating to A from A-plus on $26.7 million of limited-tax general obligation bonds issued by North Las Vegas on Oct. 19.

LOS ANGELES - The crash of Nevada's real estate market is continuing to take a big bite out of the state's municipal bond market.