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S&P rates Los Angeles TRANs SP-1+
Standard & Poor's said it assigned an SP-1+ rating to Los Angeles' $977.6 million tax and revenue anticipation notes, series 2008, due June 30, 2009.
The notes are scheduled to sell on July 8.
The notes are being issued to allow the city to manage its cash flow and to prepay annual pension contributions for fiscal 2009.
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