• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD

Summary: Allentown, Pennsylvania; General Obligation

  • ID: 1784308
  • February 2011
  • Region: Pennsylvania
  • Standard & Poors

Standard & Poor's Ratings Services assigned its 'BBB+' long-term rating, and stable outlook, to Allentown, Pa.'s series 2011 general obligation (GO) bonds and affirmed its 'BBB+' underlying rating (SPUR), with a stable outlook, on the city's existing GO debt. The rating reflects our view of the city's: Limited financial flexibility, in particular with respect to revenue-enhancement capabilities given its Home Rule Charter status; Sizable and growing unfunded pension liability; and Local economy, characterized by above-average unemployment, adequate income indicators, and low property wealth. Positive credit factors include our view of the city's: Management team's current focus on producing and adhering to structurally sound budgets, and Near break-even operations expected for fiscal 2010 after three years of consecutive general fund drawdowns....

Companies mentioned in this report are: Allentown
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance READ MORE >

Note: Product cover images may vary from those shown


Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown


Our Clients

Fluidigm Corporation Apple, Inc. CEVA Santé Animale Abbott Laboratories Ltd. Merck Group Allergan Inc. Pfizer, Inc.