Major Bond Rating Agencies Affirm San Francisco's Strong Credit

Moody’s, Standard and Poor’s, and Fitch Ratings affirm San
Francisco’s credit ratings of Aa1, AA and AA, respectively, one of the
highest of any county in California

Mayor Gavin Newsom today welcomed the affirmation of bond ratings for
the City and County of San Francisco by Moody’s Investors Service
(Moody’s), Standard & Poor’s (S&P), and Fitch Ratings (Fitch).
The bond rating affirmations were released by the rating agencies in
connection with the City’s upcoming sale of approximately $135 million
certificates of participation (COP) to refund four COP transactions for
debt service savings.

Moody’s, S&P, and Fitch each recently affirmed the City’s Aa1,
AA, and AA credit rating, respectively, on the City’s general obligation
bonds and rated Aa2, AA-, and AA-, respectively, the City’s upcoming
refunding COP transaction. The ratings reflect the one-notch
distinction between general obligation bonds and general fund-secured
lease obligations. Moody’s, S&P, and Fitch also maintained their
rating outlooks. Read more.