Standard&Poor's Ratings Services lowered its rating on Los Angeles' tax-exempt series A-1 and taxable series B-1 wastewater system commercial paper (CP) program notes to 'A-2' from 'A-1+'. This action reflects a new enhancement for the notes in the form of an irrevocable direct-pay letter of credit (LOC) from Barclays Bank PLC (A-2), replacing a prior LOC from The Bank of New York Mellon Trust Co. N.A. (A-1+). The rating reflects our view of credit and liquidity support that the LOC from Barclays Bank PLC provides for the notes. The LOC fully supports all CP note payment obligations. The issuer is authorized to issue up to $100 million of series A-1 and series B-1 CP notes. The aggregate amount
