Summary: Philadelphia Energy Authority Philadelphia Philadelphia Authority for Industrial Development; General Obligation; General Obligation Equivalent Security; Joint Criteria

S&P Global Ratings assigned its 'A' rating to the Philadelphia Energy Authority's (PEA) $73.040 million series 2023A city service agreement revenue bonds (tax-exempt) (sustainability bonds) and $10.765 million series 2023B city service agreement revenue bonds (federally taxable) (sustainability bonds), issued for Philadelphia. At the same time, we affirmed our 'A' rating on the city's outstanding general obligation (GO) bonds and city service agreement revenue bonds, and the Philadelphia Authority for Industrial Development (PAID)'s lease revenue bonds issued for the city. We also affirmed our 'AA+/A-1+' rating on certain PAID debt, with TD Bank providing liquidity support. The outlook, where applicable, is positive. The series 2023A and 2023B bonds are secured by service fee payments to be paid by the City

...+ S&P Global Ratings assigned its 'A' rating to the Philadelphia Energy Authority's (PEA) $73.040 million series 2023A city service agreement revenue bonds (tax-exempt) (sustainability bonds) and $10.765 million series 2023B city service agreement revenue bonds (federally taxable) (sustainability bonds), issued for Philadelphia. + At the same time, we affirmed our 'A' rating on the city's outstanding general obligation (GO) bonds and city service agreement revenue bonds, and the Philadelphia Authority for Industrial Development (PAID)'s lease revenue bonds issued for the city. + We also affirmed our '##+/A-1+' rating on certain PAID debt, with TD Bank providing liquidity support. + The outlook, where applicable, is positive....

Summary