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Allegheny County, PA Parity Debt Rating Raised To 'A+'; Outlook Stable May 08
Standard & Poors, May 2008
Abstract
NEW YORK (Standard & Poor's) May 19, 2008--Standard & Poor's Ratings Services said that it raised its standard long-term and underlying rating (SPUR) on Allegheny County, Pa.'s outstanding parity debt to 'A+' from 'A'. The outlook is stable. In addition, Standard & Poor's assigned its 'A+' standard long-term rating, and stable outlook, to the county's $48.79 million general obligation (GO) bonds series C-61. 'The upgrade reflects the significant improvement Allegheny County has made in eliminating its structural imbalance, as well as the county's increased fund balance position,' said Standard & Poor's credit analyst John Sugden-Castillo. The rating also reflects the county's participation in the large and diverse Pittsburgh metropolitan area economy; good wealth and income levels; and a capital improvement...
Companies mentioned in this report are: Allegheny Cnty
Action: New Rating
Action: Upgraded
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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