Delaware County, PA: Update to credit analysis following downgrade - Moody's Global Credit Research

Delaware County, PA: Update to credit analysis following downgrade

Delaware County, PA: Update to credit analysis following downgrade - Moody's Global Credit Research
Delaware County, PA: Update to credit analysis following downgrade
Published May 08, 2024
13 pages (5488 words) — Published May 08, 2024
Price US$ 250.00  |  Buy this Report Now

About This Report

  
Brief Excerpt:

...Delaware County's (Aa2 stable) strengths include a large, dynamic economy with a gross domestic product exceeding $40 billion, and low leverage (long-term liabilities are just 107% of revenue as of 2022). Yet its financial position is weaker than it had been historically ¡ its available fund balance at the end of 2022 was just 8% of revenue. Moreover, as federal stimulus aid is exhausted the county is likely to run another deficit in 2024, which would weaken the county's financial position further absent a credible plan to improve....

  
Report Type:

Credit Opinion

Issuer
Delaware (County of) PA
Format:
PDF Adobe Acrobat
Buy Now

Moody's Ratings downgrades Delaware County, PA to Aa2 from Aa1, assigns Aa2 to 2024 GO Bonds; outlook stable - Rating Action – 2024/05/08 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Delaware County, PA: Annual comment onDelaware County - Issuer Comment – 2023/12/01 – US$ 200.00 – ...Economy Resident income ratio Median Household Income (MHI) for the city or county, adjusted for Regional Price Parity (RPP), as a % of the US MHI MHI: US Census Bureau - American Community Survey 5-Year Estimates RPP: US Bureau of Economic Analysis Full value Estimated market value of taxable property in the city or county State repositories; audited financial statements; continuing disclosures Population Population of the city or county US Census Bureau - American Community Survey 5-Year Estimates Full value per capita Full value / population Economic growth metric Five year CAGR of real GDP for Metropolitan Statistical Area or county minus the five-year CAGR of real GDP for the US Real GDP: US Bureau of Economic Analysis Financial performance Revenue Sum of revenue from total governmental funds, operating and non- operating revenue from total business-type activities, and non- operating revenue from internal services funds, excluding transfers and one-time revenue, e.g., bond proceeds...

Delaware (County of) PA: Update to credit analysis - Credit Opinion – 2021/10/07 – US$ 250.00 – ...[1] Economy measures are based on data from the most recent year available. [2] Notching Factors are specifically defined in the US Local Government General Obligation Debt methodology. [3] Standardized adjustments are outlined in the GO Methodology Scorecard Inputs publication. Sources: US Census Bureau, Moody's Investors Service, Delaware County audited financial statements...

Moody's assigns Aa1 to Delaware County, PA's GO Notes - Rating Action – 2021/10/07 – US$ 180.00 – ...MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. MOODY'S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT...

Delaware County, PA: Annual Comment on Delaware County - Issuer Comment – 2021/03/23 – US$ 200.00 – ... data sources; Offering statements; Moody's Investors Service EXHIBIT 4...

More from Moody's Global Credit Research

Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

About the Author


Cite this Report

  
MLA:
Moody's Global Credit Research. "Delaware County, PA: Update to credit analysis following downgrade" May 08, 2024. Alacra Store. May 19, 2024. <http://www.alacrastore.com/moodys-credit-research/Delaware-County-PA-Update-to-credit-analysis-following-downgrade-PBM_1407042>
  
APA:
Moody's Global Credit Research. (). Delaware County, PA: Update to credit analysis following downgrade May 08, 2024. New York, NY: Alacra Store. Retrieved May 19, 2024 from <http://www.alacrastore.com/moodys-credit-research/Delaware-County-PA-Update-to-credit-analysis-following-downgrade-PBM_1407042>
  
US$ 250.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.