San Francisco City And County Approximately $236 Million GO Bonds Assigned 'AAA' Rating - S&P Global Ratings’ Credit Research

San Francisco City And County Approximately $236 Million GO Bonds Assigned 'AAA' Rating

San Francisco City And County Approximately $236 Million GO Bonds Assigned 'AAA' Rating - S&P Global Ratings’ Credit Research
San Francisco City And County Approximately $236 Million GO Bonds Assigned 'AAA' Rating
Published Mar 17, 2023
3 pages (1366 words) — Published Mar 17, 2023
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Abstract:

SAN FRANCISCO (S&P Global Ratings) March 17, 2023--S&P Global Ratings assigned its 'AAA' long-term rating to  San Francisco City and County, Calif.'s approximately $236 million general obligation bonds ($28.85 million series 2023A, health and recovery; $39.095 million series 2023B Embarcadero seawall earthquake safety; and $168.375 million series 2023C social bonds, affordable housing). At the same time, S&P Global Ratings assigned its 'A-1+' short-term rating to the city's expected $150 million series 2 (tax-exempt) and 2-T (taxable) lease revenue commercial paper (CP) certificates of participation (COPs). Additionally, S&P Global Ratings affirmed its 'AAA' long-term rating and underlying rating (SPUR) on San Francisco's outstanding GO debt and its 'AA+' long-term rating and SPUR on San Francisco City and County's outstanding appropriation obligations.

  
Brief Excerpt:

...March 17, 2023 SAN FRANCISCO (S&P Global Ratings) March 17, 2023--S&P Global Ratings assigned its '###' long-term rating to San Francisco City and County, Calif.'s approximately $236 million general obligation bonds ($28.85 million series 2023A, health and recovery; $39.095 million series 2023B Embarcadero seawall earthquake safety; and $168.375 million series 2023C social bonds, affordable housing). At the same time, S&P Global Ratings assigned its 'A-1+' short-term rating to the city's expected $150 million series 2 (tax-exempt) and 2-T (taxable) lease revenue commercial paper (CP) certificates of participation (COPs). Additionally, S&P Global Ratings affirmed its '###' long-term rating and underlying rating (SPUR) on San Francisco's outstanding GO debt and its '##+' long-term rating and SPUR on San Francisco City and County's outstanding appropriation obligations. S&P Global Ratings also affirmed its '###/A-1+' joint support rating on the city and county's outstanding series 2008-1 and...

  
Report Type:

Ratings Action

Issuer
San Francisco City and County
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "San Francisco City And County Approximately $236 Million GO Bonds Assigned 'AAA' Rating" Mar 17, 2023. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/San-Francisco-City-And-County-Approximately-236-Million-GO-Bonds-Assigned-AAA-Rating-2961671>
  
APA:
S&P Global Ratings’ Credit Research. (). San Francisco City And County Approximately $236 Million GO Bonds Assigned 'AAA' Rating Mar 17, 2023. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/San-Francisco-City-And-County-Approximately-236-Million-GO-Bonds-Assigned-AAA-Rating-2961671>
  
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