SAN FRANCISCO (Standard&Poor's) April 27, 2005--Standard&Poor's Ratings Services revised the outlook to stable from negative and affirmed the 'AA' rating on the City and County of San Francisco, Calif.'s outstanding GO debt. In addition, Standard&Poor's assigned its 'AA' rating to the city and county's $230 million Laguna Honda Hospital 1999 GO bonds, series 2005A-D. The revised outlook reflects the recent signs of improvement in the overall local economy and financial results that indicate general fund balance drawdowns will moderate over the next three fiscal years. "Since budgeted forecasts indicate further drawdowns, the rating is dependent on management's commitment to making the necessary adjustment in either revenues or expenditures to achieve structural balance such that
