Standard&Poor's Ratings Services assigned its 'AA' rating to the City and County of San Francisco, Calif.'s series 2008B GO bonds (clean and safe neighborhood parks). In addition, Standard&Poor's affirmed its 'AA' rating and underlying rating (SPUR) on the city's outstanding GO debt. The rating reflects: The city's central role in the dynamic San Francisco Bay Area, supported by a healthy job market and its enduring appeal 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 that combined to total 10% of general fund expenditures in 2008; and A moderate debt level. The above
