Summary: Los Angeles, California; Appropriations; General Obligation

S&P Global Ratings raised its long-term rating to 'AA' from 'AA-' on the city of Los Angeles, Calif.'s outstanding general obligation (GO) bonds and raised its rating to 'AA-' from 'A+' on the city's outstanding lease revenue and judgment obligation bonds. Finally, S&P Global Ratings assigned its 'AA' rating to the city's series 2017A and 2017B GO bonds. The outlook on all ratings is stable. The rating action reflects our view of the city's strong underlying economy that has recovered from recessionary lows, as well as management's continued ability to take necessary action to maintain budgetary balance and sound reserves. The rating action also reflects our expectation that the Los Angeles Department of Water and Power (LADWP) settlement will be

...S&P Global Ratings raised its long-term rating to '##' from '##-' on the city of Los Angeles, Calif.'s outstanding general obligation (GO) bonds and raised its rating to '##-' from 'A+' on the city's outstanding lease revenue and judgment obligation bonds. Finally, S&P Global Ratings assigned its '##' rating to the city's series 2017A and 2017B GO bonds. The outlook on all ratings is stable. The rating action reflects our view of the city's strong underlying economy that has recovered from recessionary lows, as well as management's continued ability to take necessary action to maintain budgetary balance and sound reserves. The rating action also reflects our expectation that the Los Angeles Department of Water and Power (LADWP) settlement will be validated by a judge and will improve revenue certainty. The ratings further reflect our view of the city's:...

Summary