Los Angeles County, CA's Lease Debt And POBs Rating Raised To 'A+'; ICR Of 'AA-' Assigned Jun 07

Standard & Poors, June 2007

Abstract
NEW YORK (Standard & Poor's) June 5, 2007--Standard & Poor's Ratings Services raised its rating on Los Angeles County, Calif.'s lease debt and pension obligation bonds to 'A+' from 'A' and assigned its 'AA-' issuer credit rating to the county. The upgrade reflects the county's improved long-term general creditworthiness, highlighted by the maintenance of healthy and improving unreserved general fund balances, an improved proportion of budgetary discretionary revenues, and strong economic performance. The outlook is stable, reflecting a strong economy, low debt and limited capital needs, and good fund balances, which have shown gradual growth over the last several years. These strengths are offset by potential future pressures from funding indigent health care and a large OPEB liability, expected to...

Companies mentioned in this report are:
- Los Angeles Cnty

Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Los Angeles Cnty

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