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July 20
2001 - Then-Assemblyman George Runner introduces legislation to memorialize the historic Ridge Route. Enacted Oct. 4. [story]
Ridge Route


| Wednesday, Jun 12, 2024
Water drop
Aerial view of Los Angeles and Los Angeles County. | Photo: Marshall Astor/Wikimedia Commons.


Fitch Ratings has raised the County’s long-term issuer credit rating to AAA from AA+, garnering the highest possible credit rating available in the financial markets.

Following a series of meetings with ratings agencies, the County also maintained its long-term ratings of AAA and Aa1 from S&P Global Ratings and Moody’s, respectively. This is a significant achievement, as only four other California counties are currently rated AAA by Fitch and S&P, and reflects the County’s broad economic base and fiscal discipline.

The Fitch credit rating upgrade was provided in connection with the County’s issuance of its 2024-25 $700 million Tax and Revenue Anticipation Notes offering, which priced this week at 3.25%. The three credit agencies assigned the highest short-term ratings to the County’s Notes issuance.

Higher investment grade ratings allow the County to attract a broader group of bond buyers and price its debt at a lower rate, saving millions of dollars in interest payments on behalf of taxpayers.

Based on a credit review under Fitch’s new U.S. Public Finance Local Government Rating Criteria, the County received high marks for its economic strength, stable tax base, and strong budgetary management and governance practices, leading to the AAA rating upgrade.

Government credit ratings are similar to consumer credit scores. The County’s status as a low credit risk means the interest rate it pays to borrow money is lower than it would be otherwise, thus providing flexibility and security in funding vital services for the County’s constituents. When the County obtains a low-interest rate loan, all County residents benefit.

“Our AAA credit ratings from Fitch and S&P, and Aa1 credit rating from Moody’s demonstrates that Los Angeles County’s fiscal health is strong,” said Lindsey P. Horvath, Chair of the Los Angeles County Board of Supervisors, who represents the Third District. “All levels of County leadership are focused on prudent financial planning and economic resiliency, while also providing and strengthening essential services for our communities.”

“The County’s AAA rating is testament to the Board of Supervisors’ commitment to establish a solid financial foundation to ensure we deliver County services fairly and responsibly, particularly to those who are most vulnerable and in need, especially coming out of the COVID pandemic,” said Supervisor Hilda L. Solis, who represents the First District. “This diligence has helped ensure we have sufficient funding to preserve the vital services and support County residents and businesses depend on right now and that we are prepared to meet future, unexpected challenges.”

“Achieving the highest credit rating is a hard-earned accomplishment for the County that will benefit the millions of residents who rely on us to deliver services and resources effectively,” said Supervisor Holly J. Mitchell, who represents the Second District.

“This credit rating reflects our commitment to managing taxpayers’ dollars responsibly and prudently even while tackling head on the challenges people are facing and some of the most difficult crises of our time,” said Supervisor Janice Hahn, who represents the Fourth District.

“I am proud of Los Angeles County’s robust credit rating,” said Supervisor Kathryn Barger, who represents the Fifth District. “I have worked hard to make prudent financial decisions, including being watchful of debt limits, investing in infrastructure, and ensuring we continuously save into our Rainy Day Fund to keep the County fiscally solvent. As a fiscal enterprise, Los Angeles County remains fundamentally strong and prepared to continue serving as the public’s safety net.”

“L.A. County is a major State and national economic driver. We continue to exhibit fiscal discipline and resilience through different economic cycles, while providing essential services to our nearly 10 million residents,” Chief Executive Officer Fesia Davenport said.

The announcements came after the County’s annual meeting with each of the three agencies on May 30, 2024. The County was represented by Board Chair Horvath, as well as the Chief Executive Officer, Treasurer and Tax Collector, Auditor-Controller and Director of the Department of Health Services.

“These ratings reflect the work of the County family and Board’s outstanding fiscal leadership,” said Treasurer and Tax Collector Elizabeth Buenrostro Ginsberg. “It is gratifying to see the County’s longstanding budgetary stewardship recognized by the ratings agencies.”

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LOS ANGELES COUNTY HEADLINES
Friday, Jul 19, 2024
Each year, since 1959, the Los Angeles County Board of Supervisors funds the production of a free holiday celebration at The Music Center’s Dorothy Chandler Pavilion on Dec. 24.
Friday, Jul 19, 2024
Caltrans announces the northbound Interstate 5 will be reduced to one or two lanes overnights Monday, July 22 through Friday, July 26 from Lake Hughes Road to two miles north of Templin Highway (near the Whitaker Sand Shed) north of Castaic for paving work.
Friday, Jul 19, 2024
The California Department of Transportation has announced emergency repairs on State Route 126 to clear the shoulder and roadway of mudslide/debris, clear and clean drainage systems, repair damaged slopes and place erosion control.
Thursday, Jul 18, 2024
The Los Angeles County Health Officer has issued an excessive heat warning for the Santa Clarita Valley Friday, July 19 through Wednesday, July 24 as triple digit temperatures have been forecast.
Thursday, Jul 18, 2024
The Los Angeles County Department of Public Health cautions residents who are planning to visit the following Los Angeles County beaches to avoid swimming, surfing, and playing in ocean waters due to bacterial levels exceeding health standards when last tested.

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Latest Additions to SCVNews.com
2001 - Then-Assemblyman George Runner introduces legislation to memorialize the historic Ridge Route. Enacted Oct. 4. [story]
Ridge Route
Each year, since 1959, the Los Angeles County Board of Supervisors funds the production of a free holiday celebration at The Music Center’s Dorothy Chandler Pavilion on Dec. 24.
Apply to Appear in 65th Annual L.A. County Holiday Celebration
Caltrans announces the northbound Interstate 5 will be reduced to one or two lanes overnights Monday, July 22 through Friday, July 26 from Lake Hughes Road to two miles north of Templin Highway (near the Whitaker Sand Shed) north of Castaic for paving work.
Northbound I-5 Lanes Reduced Overnights in Castaic Area
The Santa Clarita Master Chorale, Santa Clarita Valley Youth Orchestra and the Child & Family Center have all earned grants from the Los Angeles County Department of Arts and Culture.
Master Chorale, SCYA, Child & Family Center Earn County Art Grants
Santa Clarita Public Libraries will host Tin Can art craft events at all three of the Santa Clarita branches July 23-25 at 5:30-6:30 p.m.
July 23-25: Tin Can Art Craft Events at Santa Clarita Library Branches
Sign up to volunteer today for the city of Santa Clarita’s Third Annual Graffiti Removal Day on Saturday, Aug. 3, 8-11 a.m. at Soledad Canyon Road and Camp Plenty.
Aug. 3: Third Annual Graffiti Removal Day
The Canyon County Community Center will host "Celebrate," an events series that celebrates cultures, customs and culinary wonders on Friday, Aug. 9, from 6-9 p.m.
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The Valencia Public Library will host a Teens DIY craft event for journals Thursday, July 25 from 3:30- 4:30 p.m. at 23743 Valencia Blvd, Valencia, CA 91355.
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The city of Santa Clarita will present “Textura,” an original paintings and mosaic work exhibition by local artist Naomi Young.
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Tim Williams, a lifelong resident of Val Verde and member of the Santa Clarita Valley Historical Society Advisory Board, is working to make sure his community and its storied past is not forgotten.
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The California Department of Transportation has announced emergency repairs on State Route 126 to clear the shoulder and roadway of mudslide/debris, clear and clean drainage systems, repair damaged slopes and place erosion control.
SR-126 Highway Debris Removal, Emergency Repairs Project
1915 - Ince, Griffith, Sennett form Triangle Film Corp.; it produces & distributes early William S. Hart films [story]
Triangle Films
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The Los Angeles County Health Officer has issued an excessive heat warning for the Santa Clarita Valley Friday, July 19 through Wednesday, July 24 as triple digit temperatures have been forecast.
Excessive Heat Advisory Issued for SCV
Toby Lite, a middle infielder from Saugus High School has signed his national letter of intent to play baseball at The Master's University.
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Every summer, The Master’s University sends students across the world to partner with missionaries, pastors, and church planters in sharing the gospel and serving local bodies of believers.
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The Santa Clarita Valley Sheriff's Station is asking for the public's help in identifying grand theft suspects in a crime that occurred in Valencia.
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The Sierra Hillbillies Square and Round Dance club invites the community to a "Back to the Beach" themed square dance Sunday, Aug. 4, from 2 p.m. to 4:30 p.m., at Valencia United Methodist Church.
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The William S. Hart Union High School District Governing Board unanimously approved the appointment of Susan Kim as the newest assistant principal at West Ranch High School.
Hart District Appoints Susan Kim New West Ranch Assistant Principal
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