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Summary: Phoenixville Borough, Pennsylvania; General Obligation Dec 11
Standard & Poors, December 2011
Standard & Poor's Ratings Services assigned its 'AA' long-term rating to Phoenixville Borough, Pa.'s general obligation (GO) bonds series 2012. The outlook is stable. The rating reflects our opinion of the borough's: Stable local economy benefitting from additional employment access to the greater Philadelphia metropolitan area; Growing tax base and strong property wealth indicators; Good income levels; and Consistently strong financial position. Somewhat offsetting the above strengths is our view of the borough's moderate-to-moderately high debt burden. Although a portion of the bonds are expected to be funded by water and sewer revenues, the bonds will be secured by the full faith and credit pledge of the borough. Bond proceeds will be used to fund the construction of a new...
Companies mentioned in this report are: Phoenixville Boro
Action: New Rating
Action: Outlook: Stable
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