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

S&P Global Ratings revised its outlook to negative from stable on the San Francisco City and County, Calif.'s outstanding general obligation (GO) and appropriation debt. At the same time, S&P Global Ratings assigned its 'AAA' long-term rating to the city's anticipated $454.82 million series 2024-R1 GO refunding bonds, its 'AA+' long-term rating to the city's approximately $213.785 million refunding certificates of participation (COPs), series 2024-R1. Finally, S&P Global Ratings affirmed its 'AAA' long-term rating and underlying rating (SPUR) on San Francisco's outstanding GO debt; its 'AA+' long-term rating and SPUR on the city's outstanding appropriation obligations; its 'AAA/A-1+' joint support rating on the city's outstanding series 2008-1 and 2008-2 variable rate lease revenue obligations; and its 'A-1+' short-term rating on

...+ S&P Global Ratings revised its outlook to negative from stable on the San Francisco City and County, Calif.'s outstanding general obligation (GO) and appropriation debt. + At the same time, S&P Global Ratings assigned its '###' long-term rating to the city's anticipated $454.82 million series 2024-R1 GO refunding bonds, its '##+' long-term rating to the city's approximately $213.785 million refunding certificates of participation (COPs), series 2024-R1. + Finally, S&P Global Ratings affirmed its '###' long-term rating and underlying rating (SPUR) on San Francisco's outstanding GO debt; its '##+' long-term rating and SPUR on the city's outstanding appropriation obligations; its '###/A-1+' joint support rating on the city's outstanding series 2008-1 and 2008-2 variable rate lease revenue obligations; and its 'A-1+' short-term rating on the city's series 2&2-T and series 3&3-T lease revenue commercial paper (CP) certificates. + The negative outlook reflects our view of the slow recovery...

Summary