June 13 Moody's Investors Service assigned a MIG
1 rating to the City of Los Angeles' 2014 Tax and Revenue
Anticipation Notes (TRAN) in the amount of $1.38 billion.
Moody's says the rating on the notes shows the reasonable
budget assumptions underlying the city's cash flow projections,
its projected year-end cash position and the minimum, one-month
cushion between the city's pledged final set-aside and the note
MIG 1 is the top Moody's rating for notes.
The rating's agency also rated the city's unlimited tax
general obligation bonds Aa2 with a stable outlook.
(Reporting By Tanvi Mehta in Bangalore; Editing by Savio