Fitch rates Oakland, Calif., bonds A

Fitch Ratings said it assigned an underlying rating of A to the Oakland Joint Powers Financing Authority, Calif.'s $120 million of lease revenue refunding bonds (Oakland administration buildings), 2008 series B.

In addition, Fitch said it affirmed the A underlying rating on the City of Oakland's $118 million of pension obligation bonds, 1997 series A; the city's $195.6 million of pension obligation bonds, 2001 series; the authority's $128.1 million of refunding revenue bonds, 2005 series A-1, A-2 and B; and the authority's refunding revenue bonds, 2008 series A-1 and A-2 (taxable).

Fitch also said it affirmed the A+ underlying ratings on the city's $121.5 million of general obligation bonds and its $111.7 million of (city of Oakland G.O. bond program) refunding revenue bonds, 2005 series.

The outlook is stable.

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