...June 14, 2019 SAN FRANCISCO (S&P Global Ratings) June 14, 2019--S&P Global Ratings assigned its 'SP-1+' short-term rating to Los Angeles, Calif.'s series 2019 tax and revenue anticipation notes (TRANs). The series 2019 TRANs mature June 25, 2020. "The rating reflects our view of Los Angeles' general creditworthiness, very strong coverage of TRAN repayment set-asides and final maturity by projected available general fund cash balances, and history of relatively accurate cash flow projections," said S&P Global Ratings credit analyst Jen Hansen. The city's general obligation debt is rated ##/Stable. The city plans to use $450.0 million for cash flow purposes, $559.3 million for Los Angeles City Employees Retirement System pension payments, and $705.1 million for Los Angeles Fire and Police Pensions pension payments. The city projects the early payment will save approximately $42 million....
