Summary: San Francisco City and County; Appropriations; CP; General Obligation; Joint Criteria

S&P Global Ratings revised its outlook to negative from stable and affirmed its 'AAA' long-term rating and underlying rating (SPUR) on San Francisco's previously issued general obligation (GO) bonds and its 'AA+' long-term rating and SPUR on the city and county's previously issued appropriation obligations. At the same time, S&P Global Ratings assigned its 'AAA' long-term rating, with a negative outlook, to the city and county's $254.6 million series 2021A GO bonds (social bonds--affordable housing election of 2019) and $66.9 million series 2021B-1 bonds and $14.7 million series 2021B-2 bonds (both for earthquake safety and emergency response, election of 2020). Last, S&P Global Ratings affirmed its 'AAA/A-1+' joint support rating on the city and county's previously issued series 2008-1 and

...S&P Global Ratings revised its outlook to negative from stable and affirmed its '###' long-term rating and underlying rating (SPUR) on San Francisco's previously issued general obligation (GO) bonds and its '##+' long-term rating and SPUR on the city and county's previously issued appropriation obligations. At the same time, S&P Global Ratings assigned its '###' long-term rating, with a negative outlook, to the city and county's $254.6 million series 2021A GO bonds (social bonds--affordable housing election of 2019) and $66.9 million series 2021B-1 bonds and $14.7 million series 2021B-2 bonds (both for earthquake safety and emergency response, election of 2020). Last, S&P Global Ratings affirmed its '###/A-1+' joint support rating on the city and county's previously issued 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). The outlook revision reflects our view that the...

Summary