Los Angeles, cities and counties across the state, as well as California itself look to sell nearly $4 billion in debt in the coming days. But the declining credit rating is going to raise the long-term cost for those sales.

When you compare recently sold bonds in Georgia to those that were sold last month by Alameda County, yield and interest rates are more than 3% higher.

Over the life of the bonds, this amounts to a substantial amount of money.

From Bloomberg.com:

The Los Angeles County Public Works Financing Authority is selling a combined $700 million in Build America and Recovery Zone Economic Development Bonds this week, as California issuers offer more than $3.9 billion in debt.

States and municipalities are poised to offer $11.7 billion in securities this week, the most since the five-day period ended Oct. 8, according to data compiled by Bloomberg. About $5.2 billion of sales are scheduled as taxable, an increase of 72 percent from last week, Bloomberg data show.

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