KBRA Releases a Report Titled “Will Teachers Contract Impact LAUSD’s Credit?”
Sep. 05, 2018
NEW YORK--(BUSINESS WIRE)--Sep 5, 2018--Kroll Bond Rating Agency (KBRA) releases a report concerning Los Angeles Unified School District and its ongoing labor contract negotiations titled “Will Teachers Contract Impact LAUSD’s Credit?”
Over Labor Day weekend, United Teachers of Los Angeles (UTLA) announced that its members had authorized its leaders to call a strike, if needed, in their ongoing contract negotiations with the Los Angeles Unified School District (the “District”). Kroll Bond Rating Agency (KBRA) has issued a report addressing the topic. The report lays out the District’s current financial performance and how the outcome of the contract negotiations may have a significant impact on the District’s ongoing financial operations.
While KBRA continues to monitor developments in the negotiations, we note 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.
To view the report, click .
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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/20180905006028/en/
Alice Cheng, 646-731-2403
William Cox, 646-731-2472
Karen Daly, 646-731-2347
Senior Managing Director
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEW YORK
INDUSTRY KEYWORD: EDUCATION PRIMARY/SECONDARY OTHER EDUCATION PUBLIC POLICY/GOVERNMENT LABOR PROFESSIONAL SERVICES FINANCE OTHER PROFESSIONAL SERVICES
SOURCE: Kroll Bond Rating Agency
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PUB: 09/05/2018 06:47 PM/DISC: 09/05/2018 06:47 PM