Philadelphia's Gas Works Revenue Bonds Upgraded To 'A' From 'A-' On Stronger Fixed Cost Coverage - S&P Global Ratings’ Credit Research

Philadelphia's Gas Works Revenue Bonds Upgraded To 'A' From 'A-' On Stronger Fixed Cost Coverage

Philadelphia's Gas Works Revenue Bonds Upgraded To 'A' From 'A-' On Stronger Fixed Cost Coverage - S&P Global Ratings’ Credit Research
Philadelphia's Gas Works Revenue Bonds Upgraded To 'A' From 'A-' On Stronger Fixed Cost Coverage
Published Aug 10, 2016
Published Aug 10, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Aug. 10, 2016--S&P Global Ratings has raised its rating on the City of Philadelphia's gas works (PGW) revenue bonds, issued under its 1998 ordinance, to 'A' from 'A-'. At the same time, S&P Global Ratings has assigned its 'A' rating to Philadelphia's revenue refunding bonds, 14th series, issued under the Philadelphia Gas Works' (PGW) 1998 ordinances. The outlook is stable. S&P Global Ratings has also raised its rating on the following issues rated under our joint support criteria (low correlation): 1998 ordinance, 8th series D bonds, jointly supported by a letter of credit from Royal Bank of Canada, to 'AA+/A-1+' from 'AA/A-1+' 1998 ordinance, 8th series B bonds, jointly supported by a letter of credit

  
Report Type:

Ratings Action

Issuer
Philadelphia
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

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's Gas Works Revenue Bonds Upgraded To 'A' From 'A-' On Stronger Fixed Cost Coverage" Aug 10, 2016. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Philadelphia-s-Gas-Works-Revenue-Bonds-Upgraded-To-A-From-A-On-Stronger-Fixed-Cost-Coverage-1690952>
  
APA:
S&P Global Ratings’ Credit Research. (). Philadelphia's Gas Works Revenue Bonds Upgraded To 'A' From 'A-' On Stronger Fixed Cost Coverage Aug 10, 2016. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Philadelphia-s-Gas-Works-Revenue-Bonds-Upgraded-To-A-From-A-On-Stronger-Fixed-Cost-Coverage-1690952>
  
US$ 150.00
$  £  €
Have a Question?

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

More Research

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