...Standard & Poor's Ratings Services raised its rating on San Francisco City & County Finance Corp.'s series 2008-1 lease revenue refunding bonds, supported by San Francisco City & County (SFCC) and issued for the Moscone Center expansion project, to '###/A-1+' from '###/A-1'. At the same time, Standard & Poor's affirmed its '###/A-1+' rating on the corporation's series 2008-2 lease revenue refunding bonds, supported by SFCC. The dual ratings reflect the application of our joint criteria, using a low correlation. The long-term components of the ratings reflect the joint support of irrevocable direct-pay letters of credit (LOCs) issued by State Street Bank & Trust Co. and the underlying rating on SFCC. The short-term components of the ratings solely reflect the short-term rating on the LOC provider, State Street Bank & Trust Co. The upgrade on the series 2008-1 bonds reflects the substitution of an LOC provided by Bank of America N.A. with one from State Street Bank & Trust Co., effective...
