Kroll Bond Rating Agency Affirms California Earthquake Authority LTCR at 'A+'; Outlook Stable (Web Page)
New York (September 14, 2023) KBRA affirms the A+ long-term credit rating (LTCR) for the California Earthquake Authority's (CEA) Series 2022A Revenue Bonds. The Outlook is Stable. Key Credit Considerations The rating on the revenue bonds is based on KBRA's assessment of the CEA's financial strength as an essential earthquake insurance provider in the state of California as well as key structural aspects of the bonds. As of June…
Five-year anniversary of La Habra earthquake is a reminder to get prepared (Web Page)
(SACRAMENTO) Five years ago today, a magnitude 5.1 earthquake struck on the Puente Hills fault in La Habra and produced shaking felt across several Southern California counties. More than a hundred aftershocks followed during the next few days, including a magnitude 4.1 quake just a few miles away. The 2014 La Habra quake delivered a reminder to Southern Californians that even moderate earthquakes can cause damage—in this case, power outages,…
Northridge earthquake anniversary prompts reminders for California residents (Web Page)
(SACRAMENTO) Today marks the 23rd anniversary of the 1994 Northridge earthquake—the magnitude-6.7 shake that caused widespread damage to freeways, office buildings and homes. The cost to rebuild or repair homes has increased by about 170 percent over the past two decades, and authorities estimate that if the Northridge quake occurred today residential damage in the area could be as high as $79 billion*. “As we commemorate the…
Millions of Californians prepare to participate in annual ShakeOut earthquake drill (Web Page)
(SACRAMENTO) Millions of Californians will take an important step toward earthquake safety this Thursday, Oct. 18, at 10:18 a.m. during the 10th annual Great California ShakeOut drill, by practicing how to “Drop, Cover, and Hold On” when the ground shakes. Most Californians live within 30 miles of an active fault. Scientists say there is a 99 percent chance of a magnitude 6.7 or greater earthquake striking our state within the next…
Anniversary of 1987 Whittier Narrows earthquake offers reminder to Californians to reduce their risk of loss from earthquakes (Web Page)
(SACRAMENTO) Sunday marks the 30th anniversary of the 1987 magnitude-5.9 Whittier Narrows earthquake—reported to have caused $358 million in property damage (equivalent to about $760 million today).* The Whittier Narrows earthquake occurred about 12 miles east of Los Angeles on a previously unknown fault. The quake was moderate in strength, but it was responsible for eight deaths, numerous injuries and substantial damage. “So often when we…