Summary: San Francisco; Appropriations; CP; General Obligation; Joint Criteria

S&P Global Ratings revised the outlook to stable from negative and affirmed its 'AAA' long-term rating and underlying rating (SPUR) on San Francisco's previously issued general obligation (GO) bonds and its 'AA+' long-term rating and SPUR on the city and county's previously issued appropriation obligations. At the same time, S&P Global Ratings assigned its 'AAA' long-term rating, with a stable outlook, to San Francisco City and County's expected $316.2 million series 2022-R1 general obligation (GO) refunding bonds and its 'A-1+' short-term rating to San Francisco's expected $100 million series 3 (tax-exempt) and 3-T (taxable) lease revenue commercial paper (CP) certificates of participation. Last, S&P Global Ratings affirmed the following ratings: 'AAA/A-1+' joint support rating on the city and county's previously

...S&P Global Ratings revised the outlook to stable from negative and affirmed its '###' long-term rating and underlying rating (SPUR) on San Francisco's previously issued general obligation (GO) bonds and its '##+' long-term rating and SPUR on the city and county's previously issued appropriation obligations. At the same time, S&P Global Ratings assigned its '###' long-term rating, with a stable outlook, to San Francisco City and County's expected $316.2 million series 2022-R1 general obligation (GO) refunding bonds and its 'A-1+' short-term rating to San Francisco's expected $100 million series 3 (tax-exempt) and 3-T (taxable) lease revenue commercial paper (CP) certificates of participation. Last, S&P Global Ratings affirmed the following ratings: + '###/A-1+' joint support rating on the city and county's previously issued series 2008-1 and 2008-2 variable-rate lease revenue obligations; and + 'A-1+' short-term rating on the city and county's series 1, 1-T, 2, and 2-T CP. The outlook revision...

Summary