...October 14, 2021 SAN FRANCISCO (S&P Global Ratings) Oct. 14, 2021--S&P Global Ratings assigned its '##' long-term rating to the City of Los Angeles, Calif.'s series 2021-A general obligation (GO) bonds (social bonds, federally taxable) and series 2021-B GO refunding bonds (tax-exempt), issued on behalf of the City of Los Angeles. At the same time, S&P Global Ratings affirmed its '##' long-term rating on the city's existing GO bonds and its '##-' long-term rating and underlying rating (SPUR) on the city's existing lease revenue bonds. The outlook on all ratings is stable. The $212 million series 2021-A bonds are being issued to finance 70 permanent supportive housing projects in accordance with Proposition HHH, which enabled the city to issue up to $1.2 billion in bonds to help alleviate homelessness in Los Angeles. Management reports that the 2021-A bonds will provide about 3,500 long-term residential units. The $66 million series 2021-B refunding bonds are being issued to refund certain...
