Summary: Los Angeles Convention Center, California Los Angeles; Letter Of Credit

Standard&Poor's Ratings Services assigned its 'A-1' rating to Los Angeles Convention Center, Calif.'s tax-exempt series 2015A-1 and taxable series 2015B-1 lease-revenue commercial paper (CP) notes, issued for Los Angeles. The rating reflects our view of credit and liquidity support provided for the notes by Bank of Tokyo-Mitsubishi UFJ Ltd. (A-1), acting through its New York branch, in the form of an irrevocable direct-pay letter of credit (LOC). The LOC fully supports all CP note payment obligations. The issuer is authorized to issue up to $110 million total in A-1 and B-1 CP notes. The CP notes' aggregate amount cannot exceed the stated LOC amount. The amounts due on the notes' maturity date are to be fully funded with

...Standard & Poor's Ratings Services assigned its 'A-1' rating to Los Angeles Convention Center, Calif.'s tax-exempt series 2015A-1 and taxable series 2015B-1 lease-revenue commercial paper (CP) notes, issued for Los Angeles. The rating reflects our view of credit and liquidity support provided for the notes by Bank of Tokyo-Mitsubishi UFJ Ltd. (A-1), acting through its New York branch, in the form of an irrevocable direct-pay letter of credit (LOC). The LOC fully supports all CP note payment obligations. The issuer is authorized to issue up to $110 million total in A-1 and B-1 CP notes. The CP notes' aggregate amount cannot exceed the stated LOC amount. The amounts due on the notes' maturity date are to be fully funded with amounts available under the LOC....

Summary