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

S&P Global Ratings assigned its 'AAA' long-term rating to  San Francisco City and County (the city), Calif.'s approximately $236.32 million general obligation bonds ($28.85 million series 2023A, health and recovery; $39.095 million series 2023B Embarcadero seawall earthquake safety; and $168.375 million series 2023C social bonds, affordable housing). At the same time, S&P Global Ratings assigned its 'A-1+' short-term rating to the city's expected $150 million series 2 (tax-exempt) and 2-T (taxable) lease revenue commercial paper (CP) certificates of participation (COPs). Additionally, S&P Global Ratings affirmed its 'AAA' long-term rating and underlying rating (SPUR) on San Francisco's outstanding GO debt and its 'AA+' long-term rating and SPUR on San Francisco City and County's outstanding appropriation obligations. S&P Global Ratings also affirmed

...+ S&P Global Ratings assigned its '###' long-term rating to San Francisco City and County (the city), Calif.'s approximately $236.32 million general obligation bonds ($28.85 million series 2023A, health and recovery; $39.095 million series 2023B Embarcadero seawall earthquake safety; and $168.375 million series 2023C social bonds, affordable housing). + At the same time, S&P Global Ratings assigned its 'A-1+' short-term rating to the city's expected $150 million series 2 (tax-exempt) and 2-T (taxable) lease revenue commercial paper (CP) certificates of participation (COPs). + Additionally, S&P Global Ratings affirmed its '###' long-term rating and underlying rating (SPUR) on San Francisco's outstanding GO debt and its '##+' long-term rating and SPUR on San Francisco City and County's outstanding appropriation obligations. + S&P Global Ratings also affirmed its '###/A-1+' joint support rating on the city and county's outstanding series 2008-1 and 2008-2 variable-rate lease revenue obligations....

Summary