Allegheny County, Pennsylvania; General Obligation Feb 11

  • ID: 1857851
  • February 2011
  • Region: Pennsylvania
  • Standard & Poors
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Standard & Poor's Ratings Services has revised the rating outlook on Allegheny County, Pa.'s general obligation (GO) debt to negative from stable and affirmed its 'A+' ratings on the debt. Standard & Poor's also assigned its 'A+' long-term rating and negative outlook to the county's series C-65 GO bonds and series C-66 GO refunding bonds. The outlook revision reflects our view of the county's: Liquidity position, which remains tenuous due to the potential for fluctuation in the timing of commonwealth reimbursements toward the end of the county's fiscal year, when the majority of debt service payments are due; Underfunded pension liability, which is reflected by a 58% funded ratio as of the January 2010 actuarial valuation, and, despite the recent...

Companies mentioned in this report are:
- Allegheny Cnty
- Allegheny Cnty Indl Dev Auth

Action: New Rating

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- Allegheny Cnty
- Allegheny Cnty Indl Dev Auth

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