PHOENIX - Standard & Poor's affirmed its AA-minus rating for San Francisco Unified School District general obligation bonds.
The district won approval to issue more than $1 billion in bond ballot questions in 2003, 2006, and 2011, and plans to issue some of that debt in the coming weeks as both new money and refunding bonds. In rating the bonds, S&P cited San Francisco's wealth and revenue streams as positive factors.
"The rating reflects our view of such factors as the district's underlying economic base, high to extremely high wealth and income indicators, good financial position, and multiple revenue streams," said S&P analyst Chris Morgan.
The agency said its stable outlook in part reflects a compensation settlement covering teachers through fiscal 2017.
