Los Angeles, CA Series 2001A-1 And 2001A-2 Bonds Rating Placed On Watch Negative On Insufficient Information

Standard & Poor's Rating Services placed its 'AA+' long-term rating on Los Angeles, Calif.'s single-family mortgage revenue bonds series 2001A-1 and 2001A-2 on CreditWatch with negative implications. This action follows repeated attempts by Standard & Poor's to obtain timely information of satisfactory quality to maintain our rating on the securities in accordance with our applicable criteria and policies. Failure of receipt of the requested information by Sept. 28, 2011, will likely result in our suspension of the affected rating, preceded, in accordance with our policies, by any change to the rating that we consider appropriate given available information. For more information on our policies, see "Credit FAQ: Procedures For Suspending Ratings In U.S. Public Finance Due To Insufficient Information," published Aug. 25, 2011, on RatingsDirect on the Global Credit Portal.