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Allegheny County, Pennsylvania; General Obligation May 08
Standard & Poors, May 2008
Abstract
Standard & Poor's Ratings Services 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 series C-61 general obligation (GO) bonds. 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. The rating also reflects: The county's participation in the large and diverse Pittsburgh metropolitan area economy; Its good wealth and income levels; and A capital improvement plan (CIP) that is manageable within the county's financial and debt profiles. The rating is constrained by the county's...
Companies mentioned in this report are: Allegheny Cnty
Action: New Rating
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: Full Analysis
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