CalPERS Nets $130M In Suit Alleging Moody's Gave Strong Scores To Bad InvestmentsThe nation's largest public pension system says Moody's has agreed to pay $130 million to settle a lawsuit alleging the investment rating agency negligently gave strong scores to bad investments.
Moody’s Says California Pension Reform A Positive StepMoody’s is calling California’s pension reform plan a positive development for the state and local governments.
Credit Rating Agency Warns Of More California City Bankruptcies, Bond DefaultsOne of the nation’s top credit rating agencies will begin a wide-ranging review of municipal finances in California because of what it sees is a growing threat of increased city bankruptcies and bond defaults.
San Jose’s Credit Rating DropsIt will now be more expensive for the city of San Jose to borrow money now that the city has seen its AAA credit rating downgraded twice by the major ratings agencies.
Investors Wary Of California BondsThe cash-strapped state’s grand plan to sell $10 billion of bonds in order to pay some of its bills has come up against a glut of municipal debt on the market.