Standard&Poor's Ratings Services assigned its 'AA' rating to the City and County of San Francisco, Calif.'s $31.065 million series 2008A GO bonds. In addition, Standard&Poor's affirmed its 'AA' rating and underlying rating (SPUR) in the city's outstanding debt. The rating reflects: The city's central role in the dynamic San Francisco Bay Area, supported by a healthy job market and enduring appeal of the city as a destination for business and tourists; Good financial performance supported by a diverse revenue stream that has outperformed budgeted numbers in the current and recent fiscal years, allowing for replenished reserves; and A moderate debt level. The above strengths will help San Francisco address its $4.9 billion liability for retiree healthcare
