Tuesday, September 05, 2006
The Fitch bond rating service said Friday that San Francisco city finances are actually doing extremely well, thanks in part to tax roles bolstered by a strengthening economy system and a huge rise in real estate values.
In giving an upcoming bond issue an "AA-" grade and confirming almost alike ratings on other issues, the service said San Francisco's financial condition is strong and also getting stronger.
"Financial management has exhibited spending restraint and conservative budgeting that has resulted in bigger year-end reserves," the rating service said.
Fitch was rating a $152 million universal obligation bond that is expected to be sold Sept. 12.
In giving an upcoming bond issue an "AA-" grade and confirming almost alike ratings on other issues, the service said San Francisco's financial condition is strong and also getting stronger.
"Financial management has exhibited spending restraint and conservative budgeting that has resulted in bigger year-end reserves," the rating service said.
Fitch was rating a $152 million universal obligation bond that is expected to be sold Sept. 12.
posted by wilson @ 4:43 AM
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