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Fitch to Upgrade S-T 'F1+' Rating for Los Angeles County Capital Asset Leasing Corp CP Notes Ser B

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NEW YORK--(BUSINESS WIRE)--On the effective date involving April 19, 2013, Fitch Ratings wil
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  Fitch to Upgrade S-T 'F1+' Rating for Los Angeles County Capital Asset Leasing Corp CP Notes Ser B NEW YORK--(BUSINESS WIRE)--On the effective date involving April 19, 2013, Fitch Ratings willupgrade the short-term score to be able to 'F1+' through 'F1' assigned for the $100,000,000 Los Angeles County Money Asset Leasing Corporation, Lease Income Obligation Commercial PaperNotes Series B (Notes).The score action is at link together with (i) the particular substitution in the existing irrevocabledirect-pay letter regarding credit score (LOC) supplied by Bank associated with America, N.A. (rated'A/F1'; Steady Outlook) with a LOC to be provided by U.S. Bank National Association (US Bank,rated 'AA-/F1+'; Steady Outlook) along with (ii) the actual amendment with the active plandocuments.KEY RATING DRIVERSOn the particular successful date the 'F1' ranking around the series B notes is going to be upgradedto 'F1+' based around the US Bank substitute LOC. the short-term ranking on the Notes will expireabout the earlier associated with April 18, 2016, your expiration date in the LOC, unless such datewill be extended, or even upon just about any prior termination with the substitute LOC.Deutsche Bank National Believe In Organization will continue as the Issuing and also Having For You To Pay Agent (I&PA) for the Notes, so in which as I&PA, is directed to draw beneath the actualsubstitute LOC in order to spend maturing Notes. Your I&PA can be instructed not to issue virtuallyany Notes that would exceed your amount obtainable under your LOC, which could be at presentsized at $102,465,754.Notes may end up being issued with par with fascination credited with maturity or if issued astaxable Notes with a discount. Next the occurrence associated with an event involving default belowthe Letter involving credit along with Reimbursement Agreement, US Bank could direct theparticular I&PA to cease issuing any other Notes. US Bank may also issue your final drawingrecognize that will instructs the actual I&PA to attract on the LOC within the quantity with theoutstanding Notes and then any curiosity to be able to accrue thereon to the maturity date orpossibly the deal with quantity of maturing Notes issued with a discount. The Particular proceeds of the draw is planning to be held uninvested through the I&PA and also compensated to end up beingable to Note holders about the maturity dates with the Notes.The dealers for that notes are J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, US Bancorp,  Barclays Richesse Inc. and also Wells Fargo Securities.RATING SENSITIVITIESThe score is exclusively tied to the short-term rating that will Fitch maintains about the substitutebank providing the LOC and can reflect all changes compared to end up being able to that rating. Additional info can become acquired at www.fitchratings.com. Applicable Criteria and related Research:--'U.S. Municipal Structured Finance Criteria'(Feb. 27, 2013);--'Rating Guidelines regarding Variable-Rate Demand Obligations along with Commercial PaperIssued together with External Liquidity Support' (Jan. 31, 2013). Applicable Criteria along with Associated ResearchU.S. Municipal Structured Finance Criteriahttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=701570Rating Guidelines with regard to Variable-Rate Demand Obligations and also Commercial PaperIssued with External Liquidity Supporthttp://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=699392 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS.PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK:HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATINGDEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'SPUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA ANDMETHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OFCONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODEOF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLESERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICEFOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CANBE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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Jul 23, 2017
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