Reported about 17 hours ago
Municipal bonds issued by Los Angeles's Department of Water and Power saw a significant drop in value as devastating wildfires wreak havoc across Southern California. Recent reports indicate that at least 10,000 structures have been damaged or destroyed, leading to increased financial risks for the utility. Despite the downturn, analysts suggest that Los Angeles's strong credit profile should remain resilient due to its status as the second-largest city in the U.S.
Source: YAHOO