Standard&Poor's Ratings Services assigned its 'AA' rating to the City and County of San Francisco, Calif.'s $232.2 million series 2008 R-1 GO refunding bonds (tax-exempt) and $43.9 million series 2008 R-2 GO refunding bonds (taxable). In addition, Standard&Poor's affirmed its 'AA' underlying rating (SPUR) on 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
