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