Los Angeles Unified Receives Exceptional Positive Ratings From Most Prominent Investor Rating Agencies
Today, three of the most prominent rating agencies, Moody’s Investor Service, FitchRatings and KBRA, are in consensus regarding the improving financial outlook of Los Angeles Unified. The critical work the District has undertaken to enact financial stability is taking root and the future is positive.
“These upgraded ratings speak to the District’s prudent fiscal management and unified consensus behind our Strategic Plan, which is the guiding light leading our school community into a brighter and better future,” Superintendent Alberto M. Carvalho said.
Fitch Ratings upgraded the District’s General Obligation (GO) Bond ratings from AA+ to AAA, noting the upgrade is reflective of Los Angeles Unified’s improved expenditure flexibility as well as outperforming expectations over the last several years.
Moody’s Investor Service maintained its Aa3 rating on the District’s GO bonds, but revised its outlook from stable to positive reflecting its view of the likelihood of success as the District implements the 2022-26 Strategic Plan.
KBRA maintained their AAA rating on the District’s bonds.
The District is very pleased with the rating results and looks forward to a successful sale of $500 million General Obligation Bonds, Series QRR next week.