Summary: Philadelphia, Pennsylvania Philadelphia Redevelopment Authority; General Obligation; General Obligation Equivalent Security; Joint Criteria

S&P Global Ratings raised its rating to 'A+' from 'A' on the city of Philadelphia's outstanding general obligation (GO) bonds and city service agreement revenue bonds and on the Philadelphia Authority for Industrial Development (PAID) lease revenue bonds issued for the city. At the same time, we assigned our 'A+' rating to the Philadelphia Redevelopment Authority's (PRA) $127.9 million series 2024A city service agreement revenue bonds (federally taxable social bonds), $21.5 million series 2024B city service agreement revenue bonds (tax-exempt social bonds), and $68.8 million series 2025A city service agreement revenue refunding bonds (tax-exempt) issued for Philadelphia, based on the application of our "Methodology For Rating U.S. Governments," published Sept. 9, 2024. We also affirmed our 'AA+/A-1' rating on certain

...+ S&P Global Ratings raised its rating to 'A+' from 'A' on the city of Philadelphia's outstanding general obligation (GO) bonds and city service agreement revenue bonds and on the Philadelphia Authority for Industrial Development (PAID) lease revenue bonds issued for the city. + At the same time, we assigned our 'A+' rating to the Philadelphia Redevelopment Authority's (PRA) $127.9 million series 2024A city service agreement revenue bonds (federally taxable social bonds), $21.5 million series 2024B city service agreement revenue bonds (tax-exempt social bonds), and $68.8 million series 2025A city service agreement revenue refunding bonds (tax-exempt) issued for Philadelphia, based on the application of our "Methodology For Rating U.S. Governments," published Sept. 9, 2024. + We also affirmed our '##+/A-1' rating on certain PAID debt, with TD Bank providing liquidity support. For more information on recent rating actions related to this debt, see our report "Various Ratings Lowered on 87...

Summary