S&P lowers city of L.A.'s bond ratings amid budget crisis

S&P lowers city of L.A.'s bond ratings amid budget crisis

The bond rating downgrades came days after Mayor Karen Bass outlined the city’s stark economic situation in her proposed budget for 2025-26, which includes laying off about 1,650 city workers.

LA's credit rating downgraded amid $1 billion deficit, 'structural imbalance'

(The Center Square) – Standard & Poor's 500 downgraded its credit rating of city of Los Angeles general obligation bonds, citing its “weakening financial position and an emerging structural imbalance.”

Los Angeles Downgraded to AA- by S&P Due to Budget Woes

Los Angeles had its credit rating downgraded one level to AA- by S&P Global Ratings, which cited the city’s deteriorating finances and budget woes for the move.

LA’s Credit Rating Downgraded Due to ‘Structural Imbalance’ Amid $1 Billion Deficit

(Just The News)—Standard & Poor’s 500 downgraded its credit rating of city of Los Angeles general obligation bonds, citing its “weakening financial position and an emerging structural imbalance.” Los Angeles faces a $1 billion deficit, having burned through its once-record reserves in just two years. Los Angeles Mayor Karen Bass is currently seeking a state bailout, but given that the state says it has “no capacity” for new spending commitments,…