...S&P Global Ratings assigned its '##-' long-term rating to the Municipal Improvement Corporation of Los Angeles, Calif.'s lease revenue bonds, series 2018-A, 2018-B, and 2018-C, issued on behalf of the City of Los Angeles. S&P Global Ratings also affirmed its '##' long-term rating on the city's outstanding general obligation (GO) bonds and its '##-' long-term rating and underlying rating (SPUR) on the city's outstanding lease revenue and judgment obligation bonds. The outlook on all ratings is stable. The ratings reflect our view of the city's strong underlying economy, which has recovered from recessionary lows. The city has some meaningful challenges in its four-year budget outlook, but we believe management will continue to take the necessary action to maintain budgetary balance and sound reserves, as it has done in the past. The rating action continues to reflect our expectation that the Los Angeles Department of Water and Power (LADWP) settlement will be validated by a judge and will...
