Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to San Francisco City&County's series 2015B general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the city and county's existing GO bonds and its 'AA' long-term rating and SPUR on the city and county's existing appropriation obligations. Finally, Standard&Poor's affirmed its 'AAA/A-1+' dual rating on obligations that have received joint credit support. The outlook, where applicable, is stable. Revenue from unlimited ad valorem taxes levied on taxable property within the city and county secures the GO bonds. The San Francisco Board of Supervisors has the power and obligation to levy these taxes without limitation
