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Los Angeles, CA's Series 2011 A Through D Tax And Revenue Anticipation Notes Rated 'SP-1+' Jun 11
Standard & Poors, June 2011
NEW YORK (Standard & Poor's) June 20, 2011--Standard & Poor's Ratings Services assigned its 'SP-1+' short-term rating to Los Angeles, Calif.'s tax and revenue anticipation notes (TRANs) series 2011A-D. The series 2011A $325 million TRANs mature on March 30, 2012, the series 2011B $325 million TRANs mature on April 30, 2012, the series 2011C $325 million TRANs mature on May 31, 2012, and the series 2011D $325 million TRANs mature on June 29, 2012. "The rating reflects what we view as strong coverage of TRANs repayment amounts by the city's projected net available general fund and pledged debt service fund cash balances at the maturity dates," said Standard & Poor's credit analyst Sussan Corson. The rating also reflects a note...
Companies mentioned in this report are:
- Los Angeles
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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- Los Angeles