Bond ratings

The fiscal 2026 budget would increase police and fire funding by $63.1 million as the city works to comply with a voter-approved public safety spending mandate.

The rating agency cited stong debt service coverage and modest leverage.

Generous federal support is offset by a small and volatile economy, the agency said.

Moody's cited continued liquidity improvements in the ratings lift for the northern California clean energy aggregator.

Fitch said the train line's ridership and revenue ramp-up continue to lag projections.

The agency cited the permanent raise to the rum tax cover for the improved outlook.

Fitch cited the authority's stronger margins in recent years.

The action follows an upgrade for the sole purchaser of its power.

Moody's based this downgrade on the lowering of the rating of the United States government.

Municipals were cut up four basis points, depending on the curve, through noon.