PIMCO: No Impact on LA Municipal Bond Payments Despite Wildfires

Reported 20 days ago

PIMCO has reported that Los Angeles municipal bond issuers are expected to manage losses from ongoing wildfires without affecting bondholder payments. The firm believes that the financial stability of the city, county, and schools, alongside a broad tax base and FEMA assistance, will help ensure continued debt obligations are met. However, the credit rating of the Los Angeles Department of Water and Power has declined due to legal issues, leading to higher investor return expectations for its bonds.

Source: YAHOO

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