SAN FRANCISCO (Standard&Poor's) April 19, 2013--Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Los Angeles, Calif.'s $149 million series 2013A wastewater system revenue bonds and $204 million series 2013B wastewater revenue refunding bonds. In addition, we assigned our 'AA' rating to the wastewater system's $363 million series 2013A subordinate lien wastewater revenue refunding bonds. We also affirmed our 'AA+' long-term and underlying rating (SPUR) on the city's outstanding senior-lien wastewater revenue bonds, and affirmed our 'AA' long-term and underlying rating (SPUR) on the city's outstanding subordinate lien wastewater revenue bonds. The outlook is stable. "We expect continued strong financial performance, including debt service coverage ratios and liquidity, especially given annual rate increases through fiscal 2021,"
