NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of AA with a Stable outlook to City of Los Angeles, California’s General Obligation Refunding Bonds Series 2016-A (Taxable). KBRA has also affirmed all of the City of Los Angeles’ outstanding general obligation bonds. As of November 1, 2016 the City has approximately $703.8 million of GO bonds outstanding.
This rating is based on KBRA’s U.S. Local General Obligation Rating Methodology. KBRA’s rating evaluation of the long-term credit quality of local government general obligation bonds focuses on four key rating determinants:
- Governance, Management Structure and Policies,
- Municipal Resources Base,
- Debt and Additional Continuing Obligations, and
- Financial Performance and Liquidity Position.
In the process of assigning the rating, KBRA reviewed multiple sources of information and engaged in detailed discussions with the City management.
To view the report, please click here.
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About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).