...S&P Global Ratings assigned its '##+' long-term rating to San Francisco City and County's series 2018C-E general obligation (GO) debt. At the same time, S&P Global Ratings affirmed its '##+' long-term rating on the city and county's GO debt, and its '##' long-term rating and underlying rating (SPUR) on the city and county's appropriation obligations. The outlook on these ratings is positive. S&P Global Ratings also affirmed its '###/A-1+' joint-support rating on the city and county's series 2008 variable-rate lease revenue obligations, and its 'A-1+' short-term rating on the series 1, 1-T, 2, 2-T, 3, and 3-T commercial paper (CP). Revenue from unlimited ad valorem taxes levied on all taxable property, without limitation as to rate or amount, secures the series 2018C-E GO bonds as well as previously issued GO bonds. Lease payments by the city and county for the use of capital facilities secure the appropriation obligations. Our joint rating on the city and county's lease revenue bonds, which...
