Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Philadelphia

Philadelphia, PA's Tax And Revenue Anticipation Notes Series B Rated 'SP-1+'

Published Oct 20, 2009

1027 words — Published Oct 20, 2009

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

NEW YORK (Standard&Poor's) Oct. 20, 2009--Standard&Poor's Ratings Services assigned its 'SP-1+' short-term rating to Philadelphia, Pa.'s $275 million tax and revenue anticipation notes (TRANs) series B of 2009-2010. "The rating on the TRANs reflects what we view as the city's satisfactory general fund liquidity position; and good historical and projected debt service coverage from net ending general fund cash balances on the segregation dates and TRAN maturity date," said Standard&Poor's credit analyst Karl Jacob. The TRANs are general obligations (GOs) of Philadelphia (BBB/Stable GO rating), but the city has not pledged its taxing power and is not required to levy ad valorem taxes for their payment. The notes are payable from fiscal 2010 general

Brief Excerpt:

RESEARCH Philadelphia, PA's Tax And Revenue Anticipation Notes Series B Rated 'SP-1+' Publication date: 20-Oct-2009 Primary Credit Analyst: Karl Jacob, New York (1) 212-438-2111; karl_jacob@standardandpoors.com Secondary Credit Analyst:...

Report Type:

Ratings Action

Issuer

Philadelphia

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

HTML

S&P Corrects And Lowers Deutsche Bank Securities Inc. Receipts' Series DB-247 Ratings To 'BBB-' And 'BBB-/A-3' – 2009/12/31 – US$ 150.00

S&P Corrects And Lowers Deutsche Bank Securities Inc. Receipts' Series DB-263 Ratings To 'BBB-' And 'BBB-/A-3' – 2009/12/31 – US$ 150.00

Philadelphia's $391.59M Series 2010A Water And Wastewater Revenue Refunding Bonds Rated 'A'; Outlook Stable – 2010/03/24 – US$ 150.00

Philadelphia; Water/Sewer – 2010/03/25 – US$ 500.00

Summary: Philadelphia; Water/Sewer – 2010/03/25 – US$ 225.00

Summary: Philadelphia, Pennsylvania; Note – 2009/10/20 – US$ 225.00

Philadelphia, Pennsylvania; Gas; Joint Criteria – 2009/08/14 – US$ 500.00

Summary: Philadelphia, Pennsylvania; Gas; Joint Criteria – 2009/08/14 – US$ 225.00

Philadelphia, PA's Eighth Series B, C, And E Bonds Rated 'AAA/A-1+'; Eighth Series D Rated 'AA/A-1+' – 2009/08/03 – US$ 150.00

S&P Corrects And Raises Ratings On Philadelphia, PA's Series 2007A and 2007B Water And Sewer Revenue Bonds – 2009/07/31 – US$ 150.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Philadelphia, PA's Tax And Revenue Anticipation Notes Series B Rated 'SP-1+'" Oct 20, 2009. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Philadelphia-PA-s-Tax-And-Revenue-Anticipation-Notes-Series-B-Rated-SP-1-752565>

APA:	S&P Global Ratings’ Credit Research. (). Philadelphia, PA's Tax And Revenue Anticipation Notes Series B Rated 'SP-1+' Oct 20, 2009. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Philadelphia-PA-s-Tax-And-Revenue-Anticipation-Notes-Series-B-Rated-SP-1-752565>

US$ 150.00

$ £ €

Have a Question?

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

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.