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: Outlook: Stable
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