Summary: Los Angeles Municipal Improvement Corp., California Los Angeles; Appropriations; General Obligation

S&P Global Ratings assigned its 'AA-' rating to the City of Los Angeles Municipal Improvement Corp., Calif.'s 2019-A lease revenue bonds (capital equipment) and 2019-B lease revenue refunding bonds (real property) issued on behalf of the City of Los Angeles. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on the city's outstanding general obligation (GO) and judgment obligation bonds and its 'AA-' long-term rating and underlying rating (SPUR) on the city's lease revenue bonds. The outlook on all ratings is stable. The ratings reflect our view of the city's: Strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Strong management, with good financial policies and practices under our Financial Management Assessment (FMA)

...S&P Global Ratings assigned its '##-' rating to the City of Los Angeles Municipal Improvement Corp., Calif.'s 2019-A lease revenue bonds (capital equipment) and 2019-B lease revenue refunding bonds (real property) issued on behalf of the City of Los Angeles. At the same time, S&P Global Ratings affirmed its '##' long-term rating on the city's outstanding general obligation (GO) and judgment obligation bonds and its '##-' long-term rating and underlying rating (SPUR) on the city's lease revenue bonds. The outlook on all ratings is stable. The ratings reflect our view of the city's: + Strong economy, with access to a broad and diverse metropolitan statistical area (MSA); + Strong management, with good financial policies and practices under our Financial Management Assessment (FMA) methodology; + Adequate budgetary performance, with slight operating surpluses in the general fund and at the total governmental fund level in fiscal 2018; + Very strong liquidity, with total government available...

Summary