KBRA Releases Report Assigning AA+ Rating, Stable Outlook to the Department of Water and Power of the City of Los Angeles Water System Revenue Bonds, 2025 Series A1

On January 6, 2025, KBRA assigned a long-term rating of AA+ to the Department of Water and Power of the City of Los Angeles Water System Revenue Bonds, 2025 Series A. Concurrently, KBRA affirmed the long-term rating of AA+ for the Department's outstanding Water System Revenue Bonds. The Outlook is Stable.

The rating reflects institutionalized Departmental financial management policies and procedures that have enabled maintenance of strong liquidity and debt service coverage. A water rate structure that effectively decouples revenue generation from changes in customer demand, and the solid wealth metrics of the Water System service area further underpin the rating.

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^1. This Press Release was revised on July 30, 2025, to reflect the Department’s decision to cancel the sale of bonds originally designated herein as Water System Revenue Bonds, 2025 Series A.