Standard & Poor's Ratings Services assigned its 'A+' long-term rating to San Leandro, Calif.'s series 2012 taxable pension obligation bonds. Standard & Poor's also affirmed its 'A+' long-term rating and underlying rating on the certificates of participation (COP) for which the city is obligor. The outlook on all ratings is stable. The ratings reflect our view of the city's: Economic base in the core of the San Francisco region that shows strong-to-extremely-strong wealth and income indicators; Track record of maintaining a very strong financial position, which we anticipate will continue; and Good financial management policies and practices. Partially offsetting these foregoing strengths is our view of the city's lack of adherence to its minimum reserves policy after a period of...
Companies mentioned in this report are:
- San Leandro
Action: New Rating
Action: Outlook: Stable
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