...S&P Global Ratings assigned its '###' long-term rating to San Francisco City and County's $47.0 million series 2020A general obligation (GO) bonds, $108.3 million series 2020B-1, $27.6 million series 2020B-2 GO bonds, and $194.6 million series 2020-R1 GO bonds. At the same time, S&P Global Ratings affirmed the following ratings on debt associated with the city and county: + '###' long-term rating on the city and county's existing GO bonds; + '##+' long-term rating and underlying rating (SPUR) on the city and county's appropriation obligations; + '###/A-1+' joint-support rating on the city and county's series 2008-1 and 2008-2 variable-rate lease revenue obligations; and + '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 $5.2 billion in governmental debt, including institutionally linked tax increment and special assessment debt, outstanding at the end of fiscal 2020. Revenue from...
