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

Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to San Francisco City and County's series 2016C, 2016D, and 2016E general obligation (GO) bonds. At the same time, Standard&Poor's affirmed its 'AA+' long-term rating and underlying rating (SPUR) on the city and county's existing general obligation (GO) bonds and its 'AA' long-term rating and SPUR on the city and county's existing appropriation obligations. Finally, Standard&Poor's affirmed its 'AAA/A-1+' dual rating on the city and county's obligations that have received joint credit support. The outlook, where applicable, is stable. Revenue from unlimited ad valorem taxes levied on taxable property within the city and county secures the GO bonds. The San Francisco Board of Supervisors has the

...Standard & Poor's Ratings Services assigned its '##+' long-term rating to San Francisco City and County's series 2016C, 2016D, and 2016E general obligation (GO) bonds. At the same time, Standard & Poor's affirmed its '##+' long-term rating and underlying rating (SPUR) on the city and county's existing general obligation (GO) bonds and its '##' long-term rating and SPUR on the city and county's existing appropriation obligations. Finally, Standard & Poor's affirmed its '###/A-1+' dual rating on the city and county's obligations that have received joint credit support. The outlook, where applicable, is stable. Revenue from unlimited ad valorem taxes levied on taxable property within the city and county secures the GO bonds. The San Francisco Board of Supervisors has the power and obligation to levy these taxes without limitation as to rate or amount on all taxable property in the city and county for the GO bonds' repayment. The city and county's appropriation obligations represent an interest...

Summary