...CHARLOTTESVILLE (S&P Global Ratings) Sept. 13, 2018--S&P Global Ratings assigned its 'A' rating to the Philadelphia Redevelopment Authority's series 2018 taxable city service agreement revenue bonds. The outlook is stable. "The rating incorporates our view of the city's strong economy and management, which continue to address the need for ongoing balance among several areas, including ongoing operational needs, pension costs, and a desire to support the School District of Philadelphia (SDP)," said S&P Global Ratings credit analyst Lisa Schroeer. "We believe the city's revenue growth through economic activity has been an important factor in its improved financial performance, and believe it will remain a key factor in Philadelphia's ability to maintain its performance," she added. The authority's 2018 service agreement bonds and existing city agreement revenue bonds are limited obligations of the city, payable solely from service fees from the city under the city service agreement. Although...
