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LADWP Faces $993M Bond Sale Amid Wildfire Fallout

4/26/2025

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Summary

Story summary

LADWP is set to conduct a $993 million bond sale following the January Palisades wildfire that resulted in 12 fatalities and infrastructure damage.
The department is facing lawsuits from 776 plaintiffs alleging negligence in fire response and water system upkeep.
S&P Global Ratings downgraded Los Angeles to AA-minus due to financial instability, warning of potential further downgrades.
Mayor Karen Bass has proposed budget cuts to tackle a $1 billion deficit, amid uncertainties from litigation and wildfire economic impacts.

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Story summary

LADWP is set to conduct a $993 million bond sale following the January Palisades wildfire that resulted in 12 fatalities and infrastructure damage.
The department is facing lawsuits from 776 plaintiffs alleging negligence in fire response and water system upkeep.
S&P Global Ratings downgraded Los Angeles to AA-minus due to financial instability, warning of potential further downgrades.
Mayor Karen Bass has proposed budget cuts to tackle a $1 billion deficit, amid uncertainties from litigation and wildfire economic impacts.