Cities’ Clashes With CalPERS Could Have Statewide Effects
Ongoing disputes between CalPERS and two financially troubled cities -- Compton and San Bernardino -- could have consequences for other California cities and their creditors, according to a new report from credit rating firm Moody's. If the cities successfully delay their CalPERS payments, it "could incentivize other financially distressed cities to seek concessions from all creditors," the report states
- "Cities' Disputes With CalPERS Have Ramifications, Moody's Says" (Sewell, Los Angeles Times, 11/4).