NEW YORK (Standard & Poor's CreditWire) April 1, 1999ù-Standard & Poor's today assigned its single-'A'-plus rating to Lower Moreland Township,Pa.'s $5.8 million GO bonds series 1999. The bonds are secured by an unlimited ad valorem tax pledge. The rating for Lower Moreland Township, Pa. reflects the following factors: -- High income levels; -- A small, affluent, primarily residential tax base; -- Strong financial performance and reserves; and -- Moderate debt level. The township is located in eastern Montgomery County within commuting distance to Philadelphia. It is primarily a small residential community that has been experiencing moderate tax base growth. Income levels are high at twice the state and nation. In 1998, the county unemployment rate was 3.3% which was below
