KBRA Assigns AA Rating and Stable Outlook to Municipal Improvement Corporation of Los Angeles (MICLA) Lease Revenue Bonds Series 2019-A and 2019-B

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a long-term rating of AA and
Stable Outlook to the Municipal Improvement Corporation of Los Angeles
(MICLA) Lease Revenue Bonds, Series 2019-A (Capital Equipment) and Lease
Revenue Refunding Bonds, Series 2019-B (Real Property). KBRA
additionally affirms the long-term rating of AA+ and Stable Outlook on
the City of Los Angeles’ outstanding General Obligation Bonds.

 
Issuer: Municipal Improvement Corporation of Los Angeles (MICLA)
Assigned       Rating       Outlook
Lease Revenue Bonds, Series 2019-A
(Capital Equipment)
      AA       Stable
Lease Revenue Refunding Bonds,
Series 2019-B (Real Property)
      AA       Stable
Issuer: City of Los Angeles, CA        
Affirmed       Rating       Outlook
General Obligation Bonds       AA+       Stable
           

The rating action pertaining to the City’s general obligation bonds is
based on the KBRA’s U.S.
Local Government General Obligation Rating Methodology
. The
rating actions pertaining to the MICLA bonds are based on the City’s
long-term general obligation rating and an evaluation of the factors
discussed in KBRA’s U.S.
State and Local Government Abatement Lease Rating Methodology
.

A rating report will be forthcoming.

Related Publications: (available at www.kbra.com)

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S.
Securities and Exchange Commission as an NRSRO. In addition, KBRA is
designated as a designated rating organization by the Ontario Securities
Commission for issuers of asset-backed securities to file a short form
prospectus or shelf prospectus. KBRA is also recognized by the National
Association of Insurance Commissioners as a Credit Rating Provider and
is a certified Credit Rating Agency (CRA) by the European Securities and
Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is
registered with ESMA as a CRA.

Contacts

Analytical:
Alice Cheng,
Director
(646) 731-2403
[email protected]

Peter
Scherer, Associate
(646) 731-2325
[email protected]

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