Standard&Poor's Ratings Services affirmed its 'AA+' long-term rating on Los Angeles, Calif.'s series 2001A-1 and 2001A-2 single-family mortgage revenue bonds. Ginnie Mae mortgage-backed securities and a Fannie Mae pass-through secure the bonds. The outlook is stable. The rating reflects our view of the following: The high credit quality of the Ginnie Mae mortgage-backed securities and Fannie Mae pass-through, which we consider to be 'AA+' eligible under our rating criteria; The sufficiency of revenues from mortgage debt service payments to pay full and timely debt service on the bonds until maturity; Strong investment quality; and Asset/liability of 104.54% as of May 31, 2013. The rating also reflects the sovereign rating on the United States. Should the sovereign rating be
