Bulletin: Pennsylvania GO And Appropriation Ratings Are Unchanged For Now Despite Absence Of An Enacted Budget - S&P Global Ratings’ Credit Research

Bulletin: Pennsylvania GO And Appropriation Ratings Are Unchanged For Now Despite Absence Of An Enacted Budget

Bulletin: Pennsylvania GO And Appropriation Ratings Are Unchanged For Now Despite Absence Of An Enacted Budget - S&P Global Ratings’ Credit Research
Bulletin: Pennsylvania GO And Appropriation Ratings Are Unchanged For Now Despite Absence Of An Enacted Budget
Published Sep 09, 2015
Published Sep 09, 2015
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Abstract:

NEW YORK (Standard&Poor's) Sept. 9, 2015--Standard&Poor's Ratings Services today said its ratings, including its 'AA-' general obligation (GO) rating, on the State of Pennsylvania are unchanged despite the lack of an enacted budget for fiscal 2016. As we noted in our report in "Late State Budgets: Summer Cliffhangers No One Wants To See," published on June 4, 2015, on RatingsDirect, most state governments exhibit a strong commitment to debt repayment and have demonstrated willingness to honor their obligations even in the absence of a budget, in our view. This commitment could take different shapes or modalities, but whether it is a continuing resolution, a standing appropriation or some other method, the intended outcome is the same:

  
Report Type:

Bulletin

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Sector
Global Issuers, Public Finance, Structured Finance
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Region
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

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MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Pennsylvania GO And Appropriation Ratings Are Unchanged For Now Despite Absence Of An Enacted Budget" Sep 09, 2015. Alacra Store. Sep 16, 2019. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Pennsylvania-GO-And-Appropriation-Ratings-Are-Unchanged-For-Now-Despite-Absence-Of-An-Enacted-Budget-1448091>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Pennsylvania GO And Appropriation Ratings Are Unchanged For Now Despite Absence Of An Enacted Budget Sep 09, 2015. New York, NY: Alacra Store. Retrieved Sep 16, 2019 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Pennsylvania-GO-And-Appropriation-Ratings-Are-Unchanged-For-Now-Despite-Absence-Of-An-Enacted-Budget-1448091>
  
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