TORONTO (S&P Global Ratings) Nov. 20, 2024--S&P Global Ratings raised its rating to 'A+' from 'A' on the city of Philadelphia's outstanding general obligation (GO) bonds and city service agreement revenue bonds and on the Philadelphia Authority for Industrial Development (PAID) lease revenue bonds issued for the city. At the same time, we assigned our 'A+' rating to the Philadelphia Redevelopment Authority (PRA) $127.9 million series 2024A city service agreement revenue bonds (federally taxable social bonds), $21.5 million series 2024B city service agreement revenue bonds (tax-exempt social bonds), and $68.8 million series 2025A city service agreement revenue refunding bonds (tax-exempt) issued for Philadelphia, based on the application of our "Methodology For Rating U.S. Governments," published Sept. 9, 2024. We also
