Bankruptcy

Moody’s Investors Service said it is taking no immediate rating action after the Oklahoma Supreme Court reversed a $7.1 million settlement between Tulsa and the Bank of Oklahoma on a loan default.

LOS ANGELES - The San Diego Unified School District, despite double-A ratings, has put California lawmakers on notice that if proposed trigger cuts are implemented, it could be facing insolvency in the next two years.

Standard & Poor’s lowered its long-term rating on the Philadelphia Hospitals and Higher Education Facilities Authority’s revenue bonds, issued for Temple University Health System, to BBB-minus from BBB.

Moody’s Investors Service has placed the Ba3 rating on the Harrisburg Parking Authority’s $18 million of outstanding guaranteed Series 2007T revenue bonds on review for possible downgrade.

BRADENTON, Fla. - Memphis is exploring its legal options, including a lawsuit, against the National Basketball Association's Memphis Grizzlies if the NBA's lockout develops into a full-season loss.

SAN FRANCISCO - A California health care district is swaying once again on the edge of bankruptcy after emerging from Chapter 9 protection only three years ago.

The California Supreme Court said it will hear arguments Nov. 10 in San Francisco in a case that will likely decide the future of redevelopment agencies in the state.

BRADENTON, Fla. - The Jefferson County sewer default saga isn't over, even after county commissioners announced a settlement agreement last month with creditors who hold more than $3 billion in defaulted sewer warrants.

The mayor of Santa Ana, Calif., dismissed reports that the city - facing a $24 million deficit in 2012 - is on the verge of bankruptcy.

Pennsylvania's House Wednesday passed a bill that would allow Gov. Tom Corbett to declare a state of fiscal emergency in the capital, Harrisburg, and appoint a receiver to run its finances.

Pennsylvania's Senate on Tuesday afternoon approved a bill to put its capital, Harrisburg, into receivership.

BRADENTON, Fla. - The Florida auditor general's office called for the Legislature to consider placing limits on how much debt a community development district can issue and to improve oversight for CDD issuance.

Connecticut will receive a credit of about $900,000 from the three major rating agencies as part of a settlement from a lawsuit it initiated, accusing the three of unfairly lowering ratings.

Assured Guaranty has followed in the footsteps of bond insurers MBIA Inc. and Ambac Financial Group in suing Credit Suisse over soured mortgage-backed securities.

A judge on Monday placed the Chapter 9 bankruptcy filing by Harrisburg's City Council on hold for a month, while a few blocks away in Pennsylvania's capital, lawmakers continued their push for a state takeover of the struggling city.

BRADENTON, Fla. - A Florida judge has validated $2 billion of municipal bonds to fund Property Assessed Clean Energy initiatives statewide.

RBC Capital Markets LLC was fined $95,000 and ordered to pay almost $33,000 in restitution to investors for unfair pricing of municipal bonds, the Financial Industry Regulatory Authority reported Monday.

In 2003, the City Council in Harrisburg, Pa., voted 6 to 1 for a $125 million loan to fix up its local incinerator, formally known as the Resource Recovery Facility.

SAN ANTONIO - Attorneys must read transaction documents carefully and think before signing them, Securities and Exchange Commission officials warned Thursday, citing an ongoing enforcement case against Stifel Nicolaus & Co. and one of its former executives.

The City Council votes by a narrow majority to file for bankruptcy. The mayor opposes the filing, as does the city solicitor. The state has a bankruptcy restriction in place — which opponents say is too loosely written — and will likely pass a bill next week bill authorizing a takeover of its capital city.