Pennsylvania 2016 GO Bonds Assigned 'AA-' Rating; Other Ratings Affirmed; Outlook Negative - S&P Global Ratings’ Credit Research

Pennsylvania 2016 GO Bonds Assigned 'AA-' Rating; Other Ratings Affirmed; Outlook Negative

Pennsylvania 2016 GO Bonds Assigned 'AA-' Rating; Other Ratings Affirmed; Outlook Negative - S&P Global Ratings’ Credit Research
Pennsylvania 2016 GO Bonds Assigned 'AA-' Rating; Other Ratings Affirmed; Outlook Negative
Published May 20, 2016
Published May 20, 2016
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About This Report

  
Abstract:

CHICAGO (S&P Global Ratings) May 20, 2016--S&P Global Ratings has assigned its 'AA-' rating to the Commonwealth of Pennsylvania's first series of 2016 and first refunding series of 2016 general obligation (GO) bonds. At the same time, we affirmed our 'AA-' GO rating, 'A+' appropriation rating, 'A' departmental appropriation rating, and 'A-' moral obligation on the Commonwealth of Pennsylvania's outstanding debt. The outlook is negative. "The GO rating also reflects what we view as Pennsylvania's well-established priority of GO debt service, even in the absence of a budget," said S&P Global Ratings analyst Carol Spain. Other factors include its: Substantial ability--albeit with a current lack of agreement on how--to adjust revenues, expenditures, and disbursements; Diverse economy, although it is projected

  
Report Type:

Ratings Action

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Sector
Global Issuers, Public Finance, Structured Finance
Country
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. "Pennsylvania 2016 GO Bonds Assigned 'AA-' Rating; Other Ratings Affirmed; Outlook Negative" May 20, 2016. Alacra Store. Aug 18, 2019. <http://www.alacrastore.com/s-and-p-credit-research/Pennsylvania-2016-GO-Bonds-Assigned-AA-Rating-Other-Ratings-Affirmed-Outlook-Negative-1640790>
  
APA:
S&P Global Ratings’ Credit Research. (). Pennsylvania 2016 GO Bonds Assigned 'AA-' Rating; Other Ratings Affirmed; Outlook Negative May 20, 2016. New York, NY: Alacra Store. Retrieved Aug 18, 2019 from <http://www.alacrastore.com/s-and-p-credit-research/Pennsylvania-2016-GO-Bonds-Assigned-AA-Rating-Other-Ratings-Affirmed-Outlook-Negative-1640790>
  
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