Philadelphia, Pa.'s TRANs Rated 'SP-1+' - S&P Global Ratings’ Credit Research

Philadelphia, Pa.'s TRANs Rated 'SP-1+'

Philadelphia, Pa.'s TRANs Rated 'SP-1+' - S&P Global Ratings’ Credit Research
Philadelphia, Pa.'s TRANs Rated 'SP-1+'
Published Jun 26, 2000
1040 words — Published Jun 26, 2000
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Abstract:

BOSTON (Standard&Poor's CreditWire) June 26, 2000-- Standard&Poor's today assigned its 'SP-1'-plus rating to Philadelphia, Pa.'s $250 million TRANs series 2000A due June 29, 2001. The TRANs are scheduled to sell June 27, 2000. The rating reflects: -- A good liquidity position, and -- Strong historical and projected debt service coverage by net ending general fund cash balances on the debt service segregation date and the TRAN maturity date. The TRANs are secured by fiscal 2001 general fund receipts. The note repayment fund will be held by the trustee (Commerce Bank, Pa., N.A.) and invested in U.S. obligations. The city is required to deposit with the trustee the entire $250 million principal payment on June 1, 2001,

  
Brief Excerpt:

RESEARCH Philadelphia, Pa.'s TRANs Rated 'SP-1+' Publication date: 26-Jun-2000 BOSTON (Standard & Poor's CreditWire) June 26, 2000-- Standard & Poor's today assigned its 'SP-1'-plus rating to Philadelphia, Pa.'s $250 million TRANs series...

  
Report Type:

Ratings Action

Issuer
Philadelphia
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Philadelphia, Pa.'s TRANs Rated 'SP-1+'" Jun 26, 2000. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Philadelphia-Pa-s-TRANs-Rated-SP-1-156193>
  
APA:
S&P Global Ratings’ Credit Research. (). Philadelphia, Pa.'s TRANs Rated 'SP-1+' Jun 26, 2000. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Philadelphia-Pa-s-TRANs-Rated-SP-1-156193>
  
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