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Summary: Philadelphia, PA; Revenue - Health Care, Hospital; Revenue - Utility, Water/Sewer

Published Dec 31, 1998

697 words — Published Dec 31, 1998

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Abstract:

(Editor's note: This article was originally published Oct. 11, 1997. It is being republished now for RatingsDirect.) The ratings on Philadelphia, Pa.'s bonds reflect the following credit concerns: Decreasing collection rates, which have slipped to 82.2% in fiscal 1996, following a peak of 87.1% in fiscal 1994 after the city's Department of Water implemented monthly billing; and Significant anticipated additional debt resulting from a large capital improvement program. These concerns are partially lessened by the following credit strengths: Stable financial position with coverage of senior revenue debt service managed to the 1.2 times (x) level following deposits to the capital and rate stabilization accounts; and Consistently strong regulatory compliance record following the resolution of three environmental consent orders in fiscal

Brief Excerpt:

RESEARCH Summary: Philadelphia, PA; Revenue - Health Care, Hospital; Revenue - Utility, Water/Sewer Publication date: 31-Dec-1998 Credit Profile AFFIRMED Philadelphia, Pennsylvania $575,000 PHILADELPHIA WTR & SWR SER 16 DTD 5-15-91 DUE...

Report Type:

Summary

Issuer

Philadelphia

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

HTML

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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.

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Philadelphia, PA; Revenue - Health Care, Hospital; Revenue - Utility, Water/Sewer" Dec 31, 1998. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Philadelphia-PA-Revenue-Health-Care-Hospital-Revenue-Utility-Water-Sewer-114868>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Philadelphia, PA; Revenue - Health Care, Hospital; Revenue - Utility, Water/Sewer Dec 31, 1998. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Philadelphia-PA-Revenue-Health-Care-Hospital-Revenue-Utility-Water-Sewer-114868>

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