Los Angeles, CA's Series 2021-A And 2021-B Lease Revenue Refunding Bonds Assigned 'AA-' Rating

SAN FRANCISCO (S&P Global Ratings) Feb. 11, 2021--S&P Global Ratings assigned its 'AA-' long-term rating to the Municipal Improvement Corp. of Los Angeles, Calif.'s series 2021-A lease revenue refunding bonds (capital equipment and real property) (federally taxable) and series 2021-B lease revenue refunding bonds (capital equipment and real property) (tax-exempt), issued on behalf of the City of Los Angeles. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the city's existing general obligation (GO) bonds and its 'AA-' long-term rating and underlying rating (SPUR) on the city's existing lease revenue bonds. The outlook on all ratings is stable. "The Los Angeles economy, like much of the rest of the nation, has experienced a sharp recession as

...February 11, 2021 SAN FRANCISCO (S&P Global Ratings) Feb. 11, 2021--S&P Global Ratings assigned its '##-' long-term rating to the Municipal Improvement Corp. of Los Angeles, Calif.'s series 2021-A lease revenue refunding bonds (capital equipment and real property) (federally taxable) and series 2021-B lease revenue refunding bonds (capital equipment and real property) (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 general obligation (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 Los Angeles economy, like much of the rest of the nation, has experienced a sharp recession as social distancing practices and mandated business closures that were intended to slow the spread of COVID-19 have led to dramatically reduced levels of economic activity," said S&P Global Ratings credit analyst...

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