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S&P Credit Research1324 word report
published Nov 03, 2009
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services has assigned its 'AA-' rating to Penn Township, Pa.'s $9.765 million general obligation (GO) bonds. In our opinion, the 'AA-' rating reflects the township's: Stable local economy in Lancaster County; Primarily residential tax base with good income levels; and Good financial position that, due to the use of modified cash method of accounting does not fully capture some of the township's liabilities; and Moderate debt. The township's full faith and credit pledge secures the 2009 notes and GO debt outstanding. Proceeds will refund the Northwestern Lancaster sewer authority guaranteed revenue bonds series 2003 and fund various capital projects. Penn Township is in Lancaster County, about 10 miles north of the city of Lancaster. Population is
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Penn Township (Lancaster County), Pennsylvania; General Obligation Publication date: 03-Nov-2009 Primary Credit Analyst: John Sugden-Castillo, New York (1) 212-438-1678; john_sugden@standardandpoors.com...
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| Report Type: | Summary
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| Issuer: | Penn Twp (Lancaster Cnty)
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| Sector: | Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
