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Summary: Philadelphia, Pennsylvania; Letter of Credit

Published Jun 20, 2007

393 words — Published Jun 20, 2007

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Abstract:

Standard&Poor's Ratings Services affirmed its 'A-1+' rating on Philadelphia, Pa.'s Philadelphia Gas Works tax-exempt commercial paper series E due to the bank facility being extended to May 29, 2010. The rating is based on a LOC issued severally by The Bank of Nova Scotia (A-1+), Wachovia Bank N.A. (A-1+), and JPMorgan Chase Bank N.A. (A-1+) where they are each obligated to pay 33.5% of each drawing.

Brief Excerpt:

RESEARCH Summary: Philadelphia, Pennsylvania; Letter of Credit Publication date: 20-Jun-2007 Current Ratings >> Credit Profile Philadelphia gas works tax-ex CP notes dtd 01/26/2006 due 08/31/2010 Short Term Rating A-1+ Affirmed Rationale...

Report Type:

Summary

Issuer

Philadelphia

Sector

Global Issuers, Public Finance, Structured Finance

Country

United States

Region

United States

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Philadelphia, Pennsylvania; Letter of Credit" Jun 20, 2007. Alacra Store. May 19, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Philadelphia-Pennsylvania-Letter-of-Credit-586039>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Philadelphia, Pennsylvania; Letter of Credit Jun 20, 2007. New York, NY: Alacra Store. Retrieved May 19, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Philadelphia-Pennsylvania-Letter-of-Credit-586039>

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