SAN FRANCISCO--(BUSINESS WIRE)--Fitch Ratings affirms Glendale Financing Authority, CA's $38.4 million variable-rate certificates of participation (COPs) at 'AA'. In addition, Fitch affirms the 'AA+' implied general obligation (GO) rating for Glendale, CA. The city does not have GO bonds outstanding. The Rating Outlook is Stable. SECURITY The certificates are payable from city lease payments in amounts sufficient to pay debt service. The city covenants to budget and appropriate annually for the