S&P dents LA’s bond ratings as city faces $1B budget shortfall

S&P Global Ratings has dinged L.A.’s bond ratings as the city wrestles with a nearly $1 billion budget shortfall. The New York-based credit agency lowered Los Angeles’ long-term rating on its general obligation bonds to AA-, from AA, the Los Angeles Times and Westside Current reported. S&P also lowered the Municipal Improvement Corporation of Los […]This article originally appeared on The Real Deal. Click here to read the full story.