S&P has downgraded the ratings of the Los Angeles municipal utility bonds by two levels to A.

On January 15, 2023, Glonhui reported that S&P Global has downgraded the rating of Los Angeles Department of Water and Power municipal Bonds, lowering the rating from AA- to A, a drop of two levels. The rating agency stated that following the wildfire in Los Angeles, the Electrical Utilities system Bonds ratings are facing further and significant downward pressure. S&P also downgraded the rating of Los Angeles Department of Water and Power water system revenue Bonds from AA+ to AA-, a decrease of two levels.

Gelonghui FinanceJan 15 09:38

LA Wildfire Insurance-Loss Estimates Approach $40 Billion

BNN BloombergJan 15 06:52

Selective Insurance Schedules Earnings Release and Conference Call to Announce Fourth Quarter 2024 Results

BusinesswireJan 15 05:59

Homeowners Insurance Suffers as California Wildfire Rages On

Zacks Jan 15 00:15

Insured Loss for LA Fires Likely to Be Largest Wildfire Event to Date: Barclays

InvestingJan 14 16:56

The California wildfires continue to become "politicized"! Trump seizes the opportunity to attack his political opponents: they had the chance to protect the forests.

① Southern California in the USA continues to face wildfires, with limited progress in firefighting efforts. Trump criticized California Governor Newsom for not adequately protecting forests, claiming that the Los Angeles area is "left desolate." ② There are a total of 105 wildfires across California, with areas burned exceeding 163 square kilometers, 12,300 buildings destroyed, and 0.15 million residents evacuated in Los Angeles County.

cls.cnJan 14 11:06