Oakland’s mayor lost a recall vote last month, about two years after winning office, and Fitch said pressure to improve public safety was a contributor to the result.

Fitch cut Oakland's credit rating to A from AA-, citing the city's budget troubles and an uncertain path to addressing them amid political turnover.

The trifecta of sports team exits, homelessness and city leadership turnover has placed the San Francisco Bay area city on shaky fiscal ground.