SAN FRANCISCO (Standard&Poor's) Sept. 22, 2011--Standard&Poor's Ratings Services assigned its 'AA-' rating to the San Francisco City&County, Calif.'s series 2011A and 2011B refunding certificates of participation, or COPs (Moscone Center Refunding Project), and its 'AA' rating to the city's series 2011-R1 general obligation (GO) refunding bonds. At the same time, Standard&Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the city's certificates of participation (COPs) and lease revenue bonds outstanding and its 'AA' rating and SPUR on the city's other GO bonds. The outlook is negative. "The GO rating reflects our view of the city's central role in the dynamic San Francisco Bay Area, recurring budget deficits and history of
