Allegheny County, Pennsylvania; General Obligation Feb 11
Standard & Poors, February 2011
Abstract
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
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
- Allegheny Cnty
- Allegheny Cnty Indl Dev Auth
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