Moody's Ratings said the downgrade "reflects a weakening of the county's financial position."
The RSA and bankruptcy would "significantly deleverage Brightline's balance sheet and greatly improve liquidity," the company said.
The veto means California won't have a new vehicle to fund large-scale infrastructure. Newsom also killed a bill to unwind pension reforms.
Muni yields are succumbing to a "domino effect," said Kim Olsan, portfolio manager at NewSquare Capital.
A three judge panel upheld a lower court rejection of the bondholders' suit against Puerto Rico's central government.
Maryland enters the data center regulation movement as Governor Wes Moore signs an executive order and signals an end to sales tax exemptions.
