{"id":2391778,"date":"2025-01-17T14:29:02","date_gmt":"2025-01-17T19:29:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/credit-rating-agency-warns-it-may-soon-lower-los-angeles-bond-ratings-due-to-fires-washington-examiner\/"},"modified":"2025-01-17T14:32:36","modified_gmt":"2025-01-17T19:32:36","slug":"credit-rating-agency-warns-it-may-soon-lower-los-angeles-bond-ratings-due-to-fires-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/credit-rating-agency-warns-it-may-soon-lower-los-angeles-bond-ratings-due-to-fires-washington-examiner\/","title":{"rendered":"Credit rating agency warns it may soon lower Los Angeles bond ratings due to fires &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcredit-rating-agency-warns-it-may-soon-lower-los-angeles-bond-ratings-due-to-fires-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2391778&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The\u2062 provided content mentions a\u200b credit rating agency that has issued a \u200cwarning about the potential for \u2062lowering the credit rating of Los Angeles. It indicates an emphasis on financial monitoring and evaluation\u2063 by the agency, suggesting that issues may arise affecting the city&#8217;s financial standing. However, the complete context and details of the \u2064specific concerns or \u2064factors leading to this warning are not included.Additionally, the \u2063content appears to have technical elements like XML\u2064 encoding and navigation elements for a\u2064 website, indicating it is \u2063part of a digital article or news piece.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Credit rating agency warns it may soon lower Los Angeles bond ratings due to fires<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1938453\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &mdash; Credit rating agency S&amp;P placed a credit watch warning on Los Angeles&rsquo;s general obligation and municipal improvement lease revenue bonds, signaling at least a one-in-two chance that the agency could &ldquo;take a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fitch-warns-it-might-downgrade-dozens-of-us-banks-after-slashing-americas-credit-rating\/\" title=\"Fitch may downgrade many US banks after cutting America&#039;s credit rating.\">negative rating action<\/a> during the next 90 days.&rdquo;&nbsp;<\/p>\n<div class=\"article-paywall\">\n<p>L.A.s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americas-major-cities-face-looming-financial-crisis\/\" title=\"US Cities Face Impending Financial Crisis\">general obligation bonds<\/a> are currently rated at AA, while its <a href=\"https:\/\/amzn.to\/3YuVZYV\">municipal improvement corporation leave revenue bonds<\/a> are rated AA-. A reduction in credit ratings would make borrowing more expensive to reflect higher risk.<\/p>\n<p>&ldquo;The CreditWatch placement reflects our view of the city&rsquo;s weakening financial trends and the introduction of additional credit risk tied to the multiple wildfires that began on Jan. 7, 2025,&rdquo; said S&amp;P Global Ratings credit analyst Amahad Brown in a statement. &ldquo;We believe that the fires and reports of widespread damage introduced heightened risk of credit deterioration for the Los Angeles Department of Water and Power, which could pressure the city&rsquo;s finances, in addition to near-term risk to the city&rsquo;s property tax base and financial position.&rdquo;<\/p>\n<p>One week ago, S&amp;P&nbsp;<strong><a href=\"https:\/\/www.thecentersquare.com\/california\/article_017e4d58-cecf-11ef-848a-cbbb2fa8eadf.html\">warned<\/a><\/strong>&nbsp;California&rsquo;s ongoing wildfires could put the credit ratings of affected utilities and government agencies at risk. In prior years, S&amp;P has also&nbsp;<strong><a href=\"https:\/\/www.thecentersquare.com\/california\/article_017e4d58-cecf-11ef-848a-cbbb2fa8eadf.html\">warned<\/a><\/strong>&nbsp;that California out-migration resulting from fire-related insurance issues could put public finances at risk.&nbsp;<\/p>\n<p>Late last year, City Controller Kenneth Mejia declared L.A. is &ldquo;<a href=\"https:\/\/www.thecentersquare.com\/california\/article_e15362f8-7cf7-11ef-9af4-6ff39f7321ce.html\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>broke<\/strong><\/a>&rdquo; and would need to borrow money to cover court-ordered payments, reflecting the city&rsquo;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dollar-general-ceo-warns-about-state-of-us-consumer-as-company-suffers-worst-day-on-record\/\" title=\"Dollar General CEO Warns About State of US Consumer as Company Suffers Worst Day on Record\">ongoing financial difficulties<\/a>.&nbsp;<\/p>\n<p>Mejia had strong words for city leaders over a $17.5 million cut to the Los Angeles Fire Department, noting 61 staff positions in support positions had been cut.<\/p>\n<p>&ldquo;Seeing City officials in the press ignore the severe impacts of these budget cuts, especially the ones covering for their poor budget decisions to cut a majority of departments&rsquo; budgets &amp; even after Chief Crowley told them about the impacts these cuts have had, is disgraceful,&rdquo;&nbsp;<strong><a href=\"https:\/\/x.com\/lacontroller\/status\/1877966034789167486\">said<\/a><\/strong>&nbsp;Mejia on X. &ldquo;If these fires happened in August or October, would these same City officials then admit that LAFD&rsquo;s budget got cut in July where 61 civilian support positions were eliminated and sworn payroll and expenses were reduced?&rdquo;<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1938453\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1938453\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S&amp;P warns it may downgrade Los Angeles bond ratings due to fires<\/p>\n","protected":false},"author":1,"featured_media":2391779,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2023\/12\/los-angeles-skyline.jpg.optimal.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[48705,48704,36435,36585,23907],"class_list":["post-2391778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-bond-ratings","tag-credit-ratings","tag-financial-news","tag-los-angeles","tag-wildfires"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2023\/12\/los-angeles-skyline.jpg.optimal.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2391778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2391778"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2391778\/revisions"}],"predecessor-version":[{"id":2391782,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2391778\/revisions\/2391782"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2391779"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2391778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2391778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2391778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}