Los Angeles Earns Strong Rating for Short-Term Investments

The big three credit rating agencies awarded Los Angeles top ratings as an investment for short-term lenders, according to reports released Monday.

While the short-term investment fared well, the companies warned against long-term risks to the city's finances and bond ratings.

Moody's, Fitch Ratings and Standard & Poor's each gave the city high marks for its ability to pay off hundreds of millions of dollars in short-term loans the city borrows annually.