Summary: West Reading, Pennsylvania; General Obligation Jul 12

Standard & Poors, July 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'BBB+' long-term rating to West Reading Borough, Pa.'s general obligation (GO) bonds, series 2012, and affirmed its 'BBB+' issuer credit rating on the borough. The outlook is positive. The rating reflects our opinion of the borough's: Adequate wealth and income indicators, Stable property tax base, Improved financial position to adequate levels, albeit a nominally low cash balance, following the reimbursement of project-related costs, which it funded through the general fund, from its utility funds; Standard financial management practices and policies, and Moderately high to high overall net debt. The borough's full faith and credit pledge secures the bonds. We understand that the borough will use the bond proceeds to refund its outstanding...

Companies mentioned in this report are: West Reading Boro
Action: Affirmed
Action: New Rating
Action: Outlook: Positive

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.

West Reading Boro

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