...S&P Global Ratings affirmed its 'A-1' short-term rating on Los Angeles' series A-2 tax-exempt and B-2 taxable wastewater system commercial paper (CP) revenue notes. S&P Global Ratings also affirmed its 'A-1' short-term rating on Los Angeles' series A-1 tax-exempt and B-1 taxable wastewater system CP revenue notes. The affirmation on series A-1 and B-1 reflects our assessment of the updated terms and provisions of the third omnibus amendment and notice of the extension of the LOC expiration date, reimbursement agreement, and LOC provided by Barclays Bank PLC that reflects the new LOC expiration date. The affirmation on series A-2 and B-2 reflects our assessment of the replacement of the LOC provided by Toronto-Dominion Bank, New York branch with a new LOC provided by TD Bank N.A., effective Oct. 23, 2024. The rating reflects our view of the credit and liquidity support that the LOC from TD Bank N.A. provides for the CP. When evaluating the CP, we consider these risk factors....
