Philadelphia GO Debt Rating Raised Two Notches To 'A+' Based On Local GO Criteria - S&P Global Ratings’ Credit Research

Philadelphia GO Debt Rating Raised Two Notches To 'A+' Based On Local GO Criteria

Philadelphia GO Debt Rating Raised Two Notches To 'A+' Based On Local GO Criteria - S&P Global Ratings’ Credit Research
Philadelphia GO Debt Rating Raised Two Notches To 'A+' Based On Local GO Criteria
Published Dec 23, 2013
3 pages (1044 words) — Published Dec 23, 2013
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Abstract:

NEW YORK (Standard&Poor's) Dec. 23, 2013--Standard&Poor's Ratings Services said it raised its long-term rating and underlying rating (SPUR) on Philadelphia's general obligation (GO) debt two notches to 'A+' from 'A-' based on its recently released local GO criteria. The outlook is stable. Standard&Poor's also raised to 'A+' from 'A-' its long-term rating and SPUR on Philadelphia Redevelopment Authority's, Philadelphia Authority for Industrial Development's, and Philadelphia Municipal Authority's GO-equivalent appropriation debt, supported by the city. A pledge of the city's full faith credit secures the GO bonds. "The stable outlook reflects our view of the city's strong budget performance due, in part, to oversight from PICA," said Standard&Poor's credit analyst Hilary Sutton. RELATED

  
Brief Excerpt:

...NEW YORK (Standard & Poor's) Dec. 23, 2013--Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating (SPUR) on Philadelphia's general obligation (GO) debt two notches to 'A+' from 'A-' based on its recently released local GO criteria. The outlook is stable. Standard & Poor's also raised to 'A+' from 'A-' its long-term rating and SPUR on Philadelphia Redevelopment Authority's, Philadelphia Authority for Industrial Development's, and Philadelphia Municipal Authority's GO-equivalent appropriation debt, supported by the city. A pledge of the city's full faith credit secures the GO bonds. "The stable outlook reflects our view of the city's strong budget performance due, in part, to oversight from PICA," said Standard & Poor's credit analyst Hilary Sutton. RELATED CRITERIA AND RESEARCH Related Criteria + USPF Criteria: Local Government GO Ratings Methodology And Assumptions, Sept. 12, 2013 + USPF Criteria: Appropriation-Backed Obligations, June 13, 2007 Related...

  
Report Type:

Ratings Action

Issuer
Philadelphia
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Philadelphia GO Debt Rating Raised Two Notches To 'A+' Based On Local GO Criteria" Dec 23, 2013. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Philadelphia-GO-Debt-Rating-Raised-Two-Notches-To-A-Based-On-Local-GO-Criteria-2295845>
  
APA:
S&P Global Ratings’ Credit Research. (). Philadelphia GO Debt Rating Raised Two Notches To 'A+' Based On Local GO Criteria Dec 23, 2013. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Philadelphia-GO-Debt-Rating-Raised-Two-Notches-To-A-Based-On-Local-GO-Criteria-2295845>
  
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