City of Los Angeles, CA

S&P Global Ratings dropped Los Angeles' ratings and assigned a negative outlook, citing a "weakening financial position and an emerging structural imbalance."

To close a $1 billion budget hole, Mayor Karen Bass would merge some departments and lay off more than 1,600 city workers.

The Los Angeles Legislative Delegation penned a letter to state budget leaders asking for $1.9 billion in fire recovery aid for the city after meeting with city leaders.

Mayor Karen Bass and her budget chief say the city faces a $1 billion budget gap and will need to rethink the way Los Angeles operates.

An investor-driven selloff followed the Los Angeles wildfires. ICE Data Services experts join to discuss the reaction, credit impact and growing role of climate risk data.

As state and local governments are charged with funding 3/4ths of the country's infrastructure, the catastrophic wildfires in Los Angeles highlight even more the municipal bond market's vital role in keeping the U.S. competitive globally and maintaining the heart of fiscal federalism at home.

The Los Angeles-area wildfires have sparked a negative rating watch for several credits from Fitch Ratings.

"Even though it will be priced to sell, such large supply in one week may be a struggle for the asset class," said Anders S. Persson, Nuveen's chief investment officer for global fixed income, and Daniel J. Close, Nuveen's head of municipals.

Early totals on Los Angeles' trio of raging fires appear to vastly surpass devastating blazes experienced by the city over the past decade.

A report the by the city administrative officer about the city's looming deficit underscores challenges facing Los Angeles Mayor Karen Bass.