NEW YORK--(BUSINESS WIRE)--On June 28, 2018, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of AA and Stable Outlook to the City of Los Angeles Solid Waste Resources Revenue Bonds, Series 2018-A. Additionally KBRA affirmed the long-term rating of AA and Stable Outlook on all of the City’s outstanding solid waste resources revenue bonds. KBRA long-term ratings do not apply to bonds backed by a letter of credit or liquidity facility, unless otherwise noted.
The rating actions are based on the below key rating determinants of the:
- Legal Framework
- Nature of Special Tax Revenues
- Economic Base
- Revenue Analysis
- Coverage and Bond Structure
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KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
