SAN FRANCISCO — The Los Angeles Department of Water and Power, the nation's largest municipal utility, said its finances remain strong, even amid a stalemate between local elected officials that has held up a planned electricity rate increase.

"Existing bondholders should not be worried," LADWP spokeswoman Carol Tucker said in a statement in response to questions from The Bond Buyer. "LADWP will have adequate resources to service the existing bond debt."

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