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

S&P Global Ratings affirmed its 'AA' long-term rating on City of Los Angeles, Calif.'s general obligation (GO) bonds and its 'AA-' long-term rating on the Municipal Improvement Corp. of Los Angeles' (MICLA) lease revenue bonds, issued on behalf of the city. The outlook is stable. We understand that the city has approximately $948.6 million in GO bonds and $1.2 billion in MICLA lease revenue bonds outstanding. Revenue from an unlimited ad valorem tax levied on taxable property in the city secures the GO bonds. The Los Angeles County Board of Supervisors has the power and obligation to levy these taxes at the city's request for the bonds' repayment. The city is required to deposit such tax revenue, when collected, into

...+ S&P Global Ratings affirmed its '##' long-term rating on City of Los Angeles, Calif.'s general obligation (GO) bonds and its '##-' long-term rating on the Municipal Improvement Corp. of Los Angeles' (MICLA) lease revenue bonds, issued on behalf of the city. + The outlook is stable. We understand that the city has approximately $948.6 million in GO bonds and $1.2 billion in MICLA lease revenue bonds outstanding....

Summary