AP NEWS

KBRA Releases New Comment: “Bondholders Protected from Budget Pain Caused by LAUSD Teachers’ Strike”

January 9, 2019

NEW YORK--(BUSINESS WIRE)--Jan 9, 2019--Kroll Bond Rating Agency (KBRA) releases a commentary concerning Los Angeles Unified School District and its ongoing labor contract negotiations titled “Bondholders Protected from Budget Pain Caused by LAUSD Teachers’ Strike.”

This is the first week of the 2019 school calendar for over 500,000 K-12 students in the Los Angeles Unified School District (the “District” or LAUSD), but their teachers may be going on strike as early as January 10.

KBRA has issued a commentary addressing the topic, which lays out the District’s projected financial impact after factoring in some of the United Teachers Los Angeles’ demands.

KBRA continues to monitor developments in the negotiation and notes that LAUSD’s outstanding general obligation bonds are secured by a pledge of voter-approved dedicated unlimited ad valorem property tax of the District in an amount sufficient to pay debt service.

Related Publications: (available at )

CONNECT WITH KBRA

Twitter LinkedIn Download the iOS App YouTube

About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190109005883/en/

CONTACT: Analytical Contacts:Alice Cheng, Associate Director

(646) 731-2403

acheng@kbra.comWilliam Cox, Managing Director

(646) 731-2472

wcox@kbra.com

Karen Daly, Senior Managing Director

(646) 731-2347

kdaly@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE INSURANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2019.

PUB: 01/09/2019 05:28 PM/DISC: 01/09/2019 05:28 PM

http://www.businesswire.com/news/home/20190109005883/en

AP RADIO
Update hourly