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Summary: Allegheny County Industrial Development Authority, Pennsylvania; General Obligation Equivalent Security Sep 07 Product Image

Summary: Allegheny County Industrial Development Authority, Pennsylvania; General Obligation Equivalent Security Sep 07

  • Published: September 2007
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'A' rating on Allegheny County Industrial Development Authority, Pa.'s guaranteed lease revenue bonds. The rating is based on the security provided by a guarantee agreement with Allegheny County backed by the county's full faith and credit pledge to make annual lease payments and therefore reflects the county's GO rating. The rating reflects the county's: Stabilized financial operations, with two years of break-even operations, partly offset by continued weak reserve levels, as well as significant challenges and uncertainty regarding potential sources of revenue and expenditure cuts; Participation in the large and diverse Pittsburgh metropolitan area economy; Chronic challenges in property tax revenue, creating budgetary uncertainty and uneven financial operations since 1996; and Capital improvement...

Companies mentioned in this report are: Allegheny Cnty Indl Dev Auth,Allegheny Cnty Redev Auth,Allegheny Cnty
Action: Affirmed
Action: Outlook: Stable

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Allegheny Cnty Indl Dev Auth,Allegheny Cnty Redev Auth,Allegheny Cnty

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