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Allegheny County, PA Rating Outlook Revised To Negative; 'A+' Ratings Affirmed Feb 11
Standard & Poors, Feb 2011
Abstract
NEW YORK (Standard & Poor's) Feb. 3, 2011--Standard & Poor's Ratings Services has revised the rating outlook on Allegheny County, Pa.'s general obligation (GO) debt to negative from stable. Standard & Poor's affirmed its 'A+' ratings on the debt. At the same time, Standard & Poor's assigned its 'A+' long-term rating and negative outlook to the county's $111.4 million series C-65 GO bonds and $13.8 million series C-66 GO refunding bonds. The outlook revision reflects the county's: Liquidity position, which, in Standard & Poor's view, remains tenuous due to the potential for fluctuation in the timing of state reimbursements toward the end of the county's fiscal year, when the majority of debt service payments are due; Pension plan, which was...
Companies mentioned in this report are: Allegheny Cnty,Allegheny Cnty Indl Dev Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Negative
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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