S&P Global Ratings affirmed 'SP-1+' short-term rating on Los Angeles, Calif.'s series 2016 tax and revenue anticipation notes (TRANs). The series 2016 TRANs mature March 30 and June 29, 2017. The rating reflects our view of Los Angeles': General creditworthiness (AA-/Stable general obligation rating), 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. The city will now issue the TRANs with two maturity dates. The city has determined that March 30, 2017, TRANs will be between $350 million and $580 million. With the new maturity date, coverage is projected to be between 1.46x and 1.77x at the March maturity. Projected coverage at the June
