S&P Global Ratings assigned its 'SP-1+' short-term rating to the City of Los Angeles' $1.57 billion 2024 tax and revenue anticipation notes (TRANs). The notes are secured by available taxes, income, revenues, and other unrestricted funds that the City of Los Angeles is to receive for the general fund by its fiscal year-end, June 30, 2025. The 2024 TRANs mature June 26, 2025. The rating reflects our view of Los Angeles' historical use of conservative cash flow assumptions, leading to modest variances relative to very strong projected coverage of principal and interest. The city's current projections for fiscal 2025 cash flows largely reflect balance between receipts and disbursements, indicative of the budget adjustments made by the city in this latest
