- Language: English
- Published: October 2011
Summary: Hermitage, Pennsylvania; General Obligation; General Obligation Equivalent Security Mar 12
- Published: March 2012
- Region: Pennsylvania
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'A+' long-term rating to Hermitage, Pa.'s series 2012A general obligation bonds and affirmed its 'A+' ratings on the city's existing debt. The outlook is stable. The ratings reflect our opinion of the city's: Limited local employment base in a shallow regional economy; Good income levels; Good unreserved fund balance, relative to a small budget; and Moderate debt burden with limited additional debt needs. The above strengths are mitigated, in our opinion, by the city's: Limited local economy with adequate but below-average wealth levels; and Nominal fund balance levels. The city's full faith and credit pledge secures the bonds. The city will use the bond proceeds to fund various capital projects as well...
Companies mentioned in this report are: Hermitage
Action: New Rating
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 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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >