b'LOS ANGELES FIRE AND POLICE PENSION SYSTEM NOTES TO FINANCIAL STATEMENTS JUNE 30, 2025 AND 2024NOTE 7CASH, TEMPORARY INVESTMENTS, AND OTHER INVESTMENTS (Continued)Credit Risk (Continued)As of June 30, 2025, the quality ratings of the Systems fixed income investments in U.S. Government obligations and domestic corporate and foreign bonds are as follows: Quality Rating Fair Value PercentageAAA $355,848,472 5.59%AA 2,395,025,441 37.63%A 696,259,887 10.94%BBB 862,456,586 13.55%BB 491,306,634 7.71%B 656,634,264 10.32%CCC 103,259,637 1.62%CC 1,089,193 0.02%C 113,988 0.00%Not Rated 803,106,496 12.62%Subtotal 6,365,100,598 100.00%U.S. Government Issued or Guaranteed Securities 1,202,429,081Total Fixed Income Investments $7,567,529,679 As of June 30, 2024, the quality ratings of the Systems fixed income investments in U.S. Government obligations and domestic corporate and foreign bonds are as follows:Quality Rating Fair Value PercentageAAA $2,514,682,015 42.95%AA 111,169,612 1.90%A 646,708,580 11.05%BBB 778,198,184 13.29%BB 537,706,600 9.17%B 600,701,479 10.26%CCC 95,630,693 1.63%CC 5,077,356 0.09%C 76,440 0.00%Not Rated 565,119,337 9.65%Subtotal 5,855,070,296 100.00%U.S. Government Issued or Guaranteed Securities 981,074,648Total Fixed Income Investments $6,836,144,94442SECTION 2FINANCIALS 57'