Southwest

Two years after the city auditor declared Floresville, Texas, insolvent, the town on the edge of the oil boom has earned a three-notch upgrade from Standard & Poor’s.

Colorado’s E-470 Public Highway Authority earns an upgrade to BBB-Plus from Standard & Poor’s as it prepares to refund $40 million of toll revenue bonds. The higher rating follows a similar boost from Moody’s Investors Service Feb. 20.

Arkansas revenues are expected to run about $164 million above the previous forecast in 2015, according to an updated report. However, the new forecast calls for a decline in the fiscal year beginning July 1.

Arkansas Gov. Asa Hutchinson plans to call a special session of the Legislature to approve bonds for Lockheed Martin's assembly plant for a next-generation vehicle for the U.S. Army and Marine Corps.

Arizona's Salt River Project, one of the most highly rated credits in the public power sector, plans to issue $833 million of revenue bonds, an amount that could grow based on market demand.

A year after fire closed the Martin Drake Power Plant in the heart of Colorado Springs, the coal-powered plant is back in operation and producing a third of the city’s power, officials said.

At least eight school districts in Kansas closed earlier than scheduled due to state budget cuts as the state legislature looks for more ways to reduce a budget shortfall in the coming fiscal year.

Texas Comptroller Glenn Hegar asked Gov. Greg Abbott and state legislative leaders to keep the state's credit triple-A credit ratings in mind as they consider cutting taxes by nearly $5 billion.

More than $1.2 billion of the $5.4 billion of bond proposals on Texas ballots went down to defeat in local elections May 9.

Arizona will not need to use its rainy day fund to balance the budget after April revenues came in much stronger than expected, officials said.