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Allentown, PA Rating Outlook Revised To Positive
Standard & Poors, May 2008
Abstract
NEW YORK (Standard & Poor's) May 28, 2008--Standard & Poor's Ratings Services revised its bond rating outlook on Allentown, Pa.'s general obligation (GO) bonds to positive from stable based on Standard & Poor's belief that city management's recent actions toward returning the city to structurally sound budgeting practices will continue to have a positive effect on the city's overall financial profile. At the same time, Standard & Poor's affirmed its 'BBB+' standard long-term rating and underlying rating (SPUR) on Allentown's GO bonds. Standard & Poor's also assigned its 'BBB+' long-term rating to the city's $17.4 million series 2008 bonds, consisting of $6.7 million general obligation bonds, $6.3 million guaranteed sewer revenue bonds, and $4.4 million guaranteed water revenue bonds. The...
Companies mentioned in this report are: Allentown
Action: Outlook: Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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