SAN FRANCISCO - Standard & Poor's rated Half Moon Bay, Calif.'s judgment obligation bond issue AA-minus, saying strong financial management and high wealth levels offset the weight of a looming settlement payment.

The $16.7 million issue, which the city expects to price in June, would help pay off an $18 million debt it owes to a developer. Half Moon Bay was ordered to pay $41.1 million in 2007, but it negotiated the debt down to $18 million last year.

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