* The Los Angeles Department of Water and Power is planning to sell $550 million in bonds in November to upgrade its power system, including new power poles, circuits and transmission lines. Should the credit crunch continue, the utility would consider postponing the work.
About 20% of the agency's existing debt is set at a fixed rate.
"Over time, that's been very good for us because the rates have been so low," said DWP General Manager H. David Nahai.
But the variable rate recently quadrupled from 2% to 8%, causing a $2.7-million hit, Nahai said.
* The Los Angeles Unified School District's chief financial officer, Megan Reilly, said the district's bond rating has been harmed somewhat by the state government's worsening fiscal health. The district had planned to sell $950 million in bonds at the end of November for school construction, maintenance and repairs, but that may be postponed at least until after the December holidays.
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