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KBRA Assigns AA Rating and Stable Outlook to Municipal Improvement Corporation of Los Angeles (MICLA) Lease Revenue Bonds Series 2019-A and 2019-B
[May 22, 2019]

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


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 (News - Alert)        
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.


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