S&P Global Ratings assigned its 'A-1+' short-term rating to Los Angeles Municipal Improvement Corp.'s series A-1 tax-exempt and series B-1 taxable lease revenue commercial paper (CP) notes, issued for Los Angeles' Los Angeles Convention Center. The rating reflects our assessment of the credit and liquidity support State Street Bank&Trust Co. provides for the series A-1 and B-1 CP 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 $100 million for series A-1 and B-1 CP notes with a maturity of 270 days. The aggregate amount of CP notes cannot exceed the LOC's stated amount, and amounts due on the
