NEW YORK (Standard&Poor's) June 15, 2012--Standard&Poor's Ratings Services has assigned its 'SP-1+' short-term rating to Los Angeles, Calif.'s tax and revenue anticipation notes (TRANs) series 2012. The 2012A TRANs mature Feb. 28, 2013; the 2012B TRANs, March 28; the 2012C TRANs, April 25; the 2012D TRANs, May 30; and the 2012E TRANs, June 27. "The rating reflects our view of Los Angeles' general creditworthiness, good-to-strong coverage of TRANs repayment amounts, and history of relatively accurate cash flow projections," said Standard&Poor's credit analyst Sussan Corson. Securing the notes are secured by available taxes, income, revenues, and other unrestricted funds that Los Angeles is to receive for the general fund by June 30, 2013.We understand that
