Ratings agency concerned about city plans

With the Los Angeles City Council set to deliberate on a three-year budget plan on Tujesday, Ci Administrative Officer Miguel Ssantana is advising of concerns by one rating agency over the city's plans.
Santana, in a memo to Mayor Antonio Villaraigosa, said the Fitch Ratings service is concerned over the city's deteriorating financial situation and the lack of any resolve by the council the take action.
"Fitch is concerned that we have no political consensus between the mayor and the City
Council," Santana wrote."They are also concerned about the vulnerability of the three year plan given (the council's) response to the CAO's financial status report."
Santana said the conversation ended with Fitch advisors saying the situation "presented a tremendous opportunity" for elected officials to step up to the plate.