| Title: | Philadelphia Authority For Industrial Development, Pennsylvania; Appropriations; Insured Liquidity |
| Price: | $400.00 |
| Publication Date: | Apr 30, 2008 |
| Report Type: | Full Report |
| Abstract: | Standard&Poor's Ratings Services assigned its 'BBB' long-term rating and underlying rating (SPUR), with a stable outlook, to the Philadelphia Authority for Industrial Development's series 2007A fixed-rate lease revenue refunding bonds and series 2007B multimodal lease revenue refunding bonds. The long-term rating reflects the security provided by an unconditional lease agreement by which the city will make annual rent payments sufficient to pay debt service on the bonds; therefore, the rating reflects Philadelphia's general obligation (GO) credit characteristics. We will release the rating pertaining to the letter of credit (LOC) portion shortly. The long-term rating reflects the following weaknesses: The city's operating results have been historically erratic, although its financial position has improved over the past three years. The |
| Brief Excerpt: | RESEARCH Ratings Definitions Philadelphia Authority For Industrial Development, Pennsylvania; Appropriations; Insured Liquidity Publication date: ##-Apr-#### Primary Credit Analyst: Karl Jacob, New York (#) ###-###-####; karl_jacob@standardandpoors.com... |
| Word Count: | 3505 |
| Issuer: | Philadelphia Auth for Indl Dev |
| Sector: | Global Issuers, Structured Finance, Public Finance, Financial Institutions, Corporations, Asset-Backed Securities |
| Country: | United States |
| Region: | United States |
| Format: | 
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