Moody's rates Los Angeles TRANs MIG1

Moody's Investors Service said it assigned a MIG1 rating to the $977.6 million 2008 tax and revenue anticipation notes issued by the city of Los Angeles.

The expected sale date is July 8.

Proceeds will be used to address the city's general fund cash flow needs and to pre-pay its full, annual, pension contribution in July.

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