...SAN FRANCISCO (S&P Global Ratings) June 15, 2018--S&P Global Ratings assigned its '##' rating to the City of Los Angeles, Calif.'s 2018-A, 2018-B, and 2018-C general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '##' rating on the city's outstanding GO bonds and its '##-' long-term rating and underlying rating (SPUR) on the city's lease revenue and judgment obligation bonds. The outlook on all ratings is stable. The 2018-A (taxable) (social) GO bonds will be used for the permanent supportive housing loan program (bridge funding) and the facilities program to support access to mental health care, treatment, and other services for the homeless. The 2018-A bonds are the second series under the $1.2 billion Proposition HHH. The city expects to issue debt annually for this program for 10 years. The 2018-B and 2018-C refunding bonds are refunding the city's existing series 2009-B bonds for nearly 7.99% combined net present value savings, based on market conditions....
