LOS ANGELES - Bonds issued by Huntington Park, Calif.’s now-defunct redevelopment agency, and the city’s pension obligation bonds, took a ratings hit Thursday after the city used a reserve surety to make a Sept. 1 debt-service payment.

Standard & Poor’s lowered its ratings on the $55.8 million refunding revenue bond issued by the east Los Angeles-area city’s redevelopment agency to BBB-plus from A and assigned a negative outlook following a $212,292 draw on the reserve fund from Assured Guaranty Corp. to make a debt service payment. Analysts said the drawdown used about 4% of the fund. The remaining balance in the reserve account was $5.19 million following the draw, according to a filing on the Municipal Securities Rulemaking Board’s EMMA disclosure website.

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