S&P Global Ratings raised its long-term rating to 'AAA' from 'AA+' on San Francisco City and County's general obligation (GO) debt and raised its long-term rating and underlying rating to 'AA+' from 'AA' on the city and county's appropriation obligations. S&P Global Ratings also assigned its 'AAA' long-term rating to the city and county's series 2019A taxable GO bonds. Finally, S&P Global Ratings affirmed its 'AAA/A-1+' joint-support rating on the city and county's series 2008-1 and 2008-2 variable-rate lease revenue obligations, and its 'A-1+' short-term rating on the city and county's series 1, 1-T, 2, and 2-T commercial paper (CP). We calculate that the city and county will have approximately $4.5 billion in governmental debt outstanding at the end of
