Sept 2 Standard & Poor's raised its outlook on
Los Angeles, California's general obligation (GO) bonds to
"positive" from "stable", citing the city's improved economic
The ratings agency also affirmed its 'AA minus' long-term
rating and underlying rating (SPUR) on the city's GO bonds.
"The positive outlook reflects our view of the city's
improved economic metrics, including unemployment, which is
below 10 percent and continues to fall, and the city's improving
financial position, as demonstrated by a large surplus in fiscal
2013," said Standard & Poor's analyst Jen Hansen.
Standard & Poor's also affirmed its 'A plus' long-term
rating and SPUR on the city's appropriation-backed debt
The ratings agency assigned 'A plus' rating to Municipal
Improvement Corporation of Los Angeles' series 2014-A and 2014-B
lease revenue bonds, issued for the city.
(Reporting By Tanvi Mehta in Bangalore; Editing by Sriraj