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Bond rating agencies give L.A. County highest marks -- again

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Los Angeles County received the highest possible short-term bond rating from three major companies, officials said Monday, meaning the nation’s largest county government will pay lower interest rates when borrowing money.

Moody’s, Standard & Poor’s and Fitch cited the county’s large general reserve fund, which is almost $200 million, and strong fiscal management as reasons for their high marks.

The county is expected to purchase about $1 billion in bonds to help pay for expenses while it awaits tax payments and other revenue. The county has purchased short-term bonds annually since the 1970s.

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L.A. County has received the highest short-term bond rating from the companies for at least three straight years.

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jason.song@latimes.com

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