...SAN FRANCISCO (S&P Global Ratings) Feb. 5, 2019--S&P Global Ratings raised its long-term rating to '###' from '##+' on San Francisco City and County's general obligation (GO) debt and raised its long-term rating and underlying rating to '##+' from '##' on the city and county's appropriation obligations. S&P Global Ratings also assigned its '###' long-term rating to the city and county's series 2019A taxable GO bonds. Finally, S&P Global Ratings affirmed its '###/A-1+' joint-support rating on the city and county's series 2008-1 and 2008-2 variable-rate lease revenue obligations, and its 'A-1+' short-term rating on the city and county's series 1, 1-T, 2, and 2-T commercial paper (CP). We calculate that the city and county will have approximately $4.5 billion in governmental debt outstanding at the end of fiscal 2019. The outlook, where applicable, is stable. "The rating action reflects our view of continuity in the city and county's cautious budgeting approach across changes in political...
