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L.A. financial crisis causes Wall Street firm to reassess utility’s bond rating

One of the nation’s top bond rating agencies Monday announced it would reassess its bond rating of the Los Angeles Department of Water and Power, a move that Mayor Antonio Villaraigosa blamed on the City Council’s failure to approve electricity rate hikes last week. Fitch Ratings withdrew a “AA-” rating …

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DWP rates may rise between 8% and 28% to pay for mayor’s green initiatives

The hike would pay for more aggressive conservation programs and a solar plan designed to create 16,000 jobs as well as cover the fluctuating price of coal and natural gas. By David Zahniser and Phil Willon Households that get their power from the Los Angeles Department of Water and Power …

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