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Summary: Philadelphia Housing Authority, Pennsylvania; General Obligation Mar 12

  • ID: 2083414
  • March 2012
  • Region: Pennsylvania
  • Standard & Poors
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Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' issuer credit rating (ICR) on the Philadelphia Housing Authority (PHA), Pa. The outlook is stable. The rating reflects our assessment of the following credit strengths: Very strong financial performance as evidenced by year-over-year improvements in profitability and continued high levels of overall net worth; Very strong operational performance as evidenced by year-over-year continuity in high occupancy rates, a low number of days to reoccupy a unit upon a vacancy (unit turnaround), and a high percentage of rent collected; Continued low levels of debt in relation to total capital; and Very strong essentiality for PHA housing as evidenced by a waiting list exceeding 100,000 applicants for public housing and housing choice voucher units....

Companies mentioned in this report are: Philadelphia Hsg Auth
Action: Affirmed
Action: Outlook: Stable

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 READ MORE >

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Philadelphia Hsg Auth

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