Must be better than 3A. It has an extra A. I know in HS basketball AAAA is the best but it is mostly based on size of HS. Other than that, I have never heard of it.
It is an effort to bring the PBLO under the OBA umbrella. They are holding separate Championships for 16U and 18U PBLO teams. It appears to be a good move and will help shore up the OBA. This move has been going on for about 6 years and this is a formalization of the changes. Rather than fighting each other as they did for years.
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