Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Philadelphia

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

Published Dec 14, 1998

677 words — Published Dec 14, 1998

Price US$ 225.00 | Buy this Report Now

About This Report

Abstract:

The ratings upgrade on Philadelphia, Pa.'s water and sewer bonds reflects a trend of sound financial operations with the department balancing operations since fiscal 1995 without a need for a rate increase and a consistently strong regulatory compliance record following the resolution of three environmental consent orders. Additional strengths include the following: The system is a regional provider of wastewater and water services to 11 wholesale customers in addition to retail service to Philadelphia; and Sound debt service coverage of senior revenue debt service managed to the 1.2 times (x) level following deposits to the capital and rate stabilization accounts. Offsetting these are: Below-average collection rates despite the improvement to 88% in fiscal 1998 following the implementation of monthly billing

Brief Excerpt:

RESEARCH Summary: Philadelphia, PA; Revenue - Utility, Water/Sewer Publication date: 14-Dec-1998 Credit Profile $142.8 mil muni debt muni issue ser 1998 due 2015 ###+ Sale date: 15-DEC-98 $34.3 mil muni debt muni issue ser 1999 due 2006...

Report Type:

Summary

Issuer

Philadelphia

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

PDF

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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.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Summary: Philadelphia, PA; Revenue - Utility, Water/Sewer" Dec 14, 1998. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Philadelphia-PA-Revenue-Utility-Water-Sewer-85823>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Philadelphia, PA; Revenue - Utility, Water/Sewer Dec 14, 1998. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Philadelphia-PA-Revenue-Utility-Water-Sewer-85823>

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