...S&P Global Ratings assigned its '###' long-term rating to San Antonio, Texas' $47 million series 2016 combination tax and revenue certificates of obligation (fixed-rate conversion). S&P Global Ratings also assigned its '##+' long-term rating to the city's projected $59.3 million series 2021 fixed rate lease revenue bonds and $30.5 million taxable series 2021 variable rate lease revenue bonds, issued for the city by the San Antonio Municipal Facilities Corp. At the same time, S&P Global Ratings affirmed its '###' long-term rating on San Antonio's general obligation (GO) debt outstanding and its '##+' long-term rating on the city's lease revenue bonds. The outlook is stable. With this transaction, the certificates are being converted to fixed-rate obligations. The lease revenue bond proceeds will fund the city tower renovation project. The GO bonds, certificates, and notes are secured by the city's revenue from an annual ad valorem tax on all taxable property in San Antonio. The maximum allowable...
