The ‘AA+’ rating on the 2025 series A lease revenue bonds is one notch below the ‘AAA’ Issuer Default Rating (IDR) for Los Angeles County due to the slightly higher degree of optionality associated with the county’s lease payments subject to appropriation. The county plans to use a combination of reserves, budgetary savings and proceeds from the JOBs to finance $4 billion in claims, which it has agreed to pay out over five years starting in January 2026.
Thu 17 Jul, 2025 – 5:21 PM ET