San Francisco City&County, CA Bond Outlook Revised To Negative; GO Bonds Rated 'AAA', COPs Rated 'AA+' - S&P Global Ratings’ Credit Research

San Francisco City&County, CA Bond Outlook Revised To Negative; GO Bonds Rated 'AAA', COPs Rated 'AA+'

San Francisco City&County, CA Bond Outlook Revised To Negative; GO Bonds Rated 'AAA', COPs Rated 'AA+' - S&P Global Ratings’ Credit Research
San Francisco City&County, CA Bond Outlook Revised To Negative; GO Bonds Rated 'AAA', COPs Rated 'AA+'
Published Apr 22, 2024
3 pages (1399 words) — Published Apr 22, 2024
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Abstract:

SAN FRANCISCO (S&P Global Ratings) April 22, 2024--S&P Global Ratings revised its outlook to negative from stable on San Francisco City and County, Calif.'s outstanding general obligation (GO) and appropriation debt. At the same time, S&P Global Ratings assigned its: 'AAA' long-term rating to the city's anticipated $454.82 million series 2024-R1 GO refunding bonds; 'AA+' long-term rating to the city's approximately $213.785 million series 2024-R1 refunding certificates of participation (COPs). Finally, S&P Global Ratings affirmed its: 'AAA' long-term rating and underlying rating (SPUR) on San Francisco's outstanding GO debt; 'AA+' long-term rating and SPUR on the city's outstanding appropriation obligations; 'AAA/A-1+' joint support rating on the city's outstanding series 2008-1 and 2008-2 variable rate lease revenue obligations; and 'A-1+' short-term

  
Brief Excerpt:

...April 22, 2024 SAN FRANCISCO (S&P Global Ratings) April 22, 2024--S&P Global Ratings revised its outlook to negative from stable on San Francisco City and County, Calif.'s outstanding general obligation (GO) and appropriation debt. At the same time, S&P Global Ratings assigned its: - '###' long-term rating to the city's anticipated $454.82 million series 2024-R1 GO refunding bonds; - '##+' long-term rating to the city's approximately $213.785 million series 2024-R1 refunding certificates of participation (COPs). Finally, S&P Global Ratings affirmed its: - '###' long-term rating and underlying rating (SPUR) on San Francisco's outstanding GO debt; - '##+' long-term rating and SPUR on the city's outstanding appropriation obligations; - '###/A-1+' joint support rating on the city's outstanding series 2008-1 and 2008-2 variable rate lease revenue obligations; and - 'A-1+' short-term rating on the city's series 2&2-T and series 3&3-T lease revenue commercial paper (CP) certificates. "The negative...

  
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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "San Francisco City&County, CA Bond Outlook Revised To Negative; GO Bonds Rated 'AAA', COPs Rated 'AA+'" Apr 22, 2024. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/San-Francisco-City-County-CA-Bond-Outlook-Revised-To-Negative-GO-Bonds-Rated-AAA-COPs-Rated-AA-3156256>
  
APA:
S&P Global Ratings’ Credit Research. (). San Francisco City&County, CA Bond Outlook Revised To Negative; GO Bonds Rated 'AAA', COPs Rated 'AA+' Apr 22, 2024. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/San-Francisco-City-County-CA-Bond-Outlook-Revised-To-Negative-GO-Bonds-Rated-AAA-COPs-Rated-AA-3156256>
  
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