CENTENNIAL (S&P Global Ratings) April 15, 2019--S&P Global Ratings raised its long-term rating to 'AA+' from 'AA' on Los Angeles County Metropolitan Transportation Authority, Calif.'s (LACMTA) general revenue bonds outstanding. The outlook is stable. The rating action reflects the application of our "priority-lien" criteria, published Oct. 22, 2018, which factors in both the strength and stability of the pledged revenue, as well as LACMTA's general credit quality. The rating reflects what we view as: The very strong, broad, and diverse economy in Los Angeles County, which includes approximately 10.3 million residents; Very strong maximum annual debt service (MADS) coverage of 3.8x, per our calculations from fiscal 2018 sales tax revenues and including senior and subordinate debt, and our expectation that coverage will remain very strong; The historically low volatility of nationwide sales tax revenue, a view that extends to LACMTA'