Vernon, the Los Angeles-area city nearly disincorporated by the California Legislature in September, has received two divergent ratings on its $471 million of outstanding electric revenue bonds and a $73 million electric revenue bond issue planned for Wednesday.

Standard & Poor’s affirmed the A-minus on the city’s electric revenue debt on Nov. 23 with a stable outlook. But Moody’s Investors Service downgraded Vernon Electric Enterprise on Dec. 6 to Baa1 from A based mainly on declining revenues, while also giving it a stable outlook.

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