Standard&Poor's Ratings Services assigned its 'AA-' rating to San Francisco City and County, Calif.'s series 2006A lease revenue bonds, issued by the San Francisco City and County Finance Corp., reflecting: San Francisco's role as obligor and lessee; The city and county's general creditworthiness; and The city and county's covenant to budget and appropriate lease payments. The bonds are secured by San Francisco's covenant to budget and appropriate lease rental payments. The proceeds from the series 2006A lease revenue bonds will be used to fund the city's equipment acquisition program. The equipment will be amortized over three to five years, depending on the useful life of the individual pieces of equipment. The corporation assigns all rental payments to the
