- Language: English
- Published: January 2013
Pittsburgh, Pennsylvania; General Obligation Jan 12
- Published: January 2012
- Standard & Poors
Standard & Poor's Ratings Services revised its outlook to stable from negative on Pittsburgh, Pa.'s general obligation (GO) bonds outstanding. At the same time, Standard & Poor's affirmed its 'BBB' rating on the GO bonds. We base the outlook revision on our view of the city's efforts to begin to address financial pressures associated with its pension system, although significant challenges related to the system's funding remain. Standard & Poor's also assigned its 'BBB' long-term rating, and stable outlook, to the city's series 2012A and 2012B GO bonds. The 'BBB' rating reflects what we view as: Pittsburgh's diminished budgetary flexibility due to high fixed costs associated with the city's long-term debt, pension, and other postemployment benefit (OPEB) liabilities, and limited...
Companies mentioned in this report are: Pittsburgh
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
SHOW LESS READ MORE >
|Electronic||The report will be emailed to you.|