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Summary: West Reading, Pennsylvania; General Obligation Jul 12
Standard & Poors, July 2012
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: New Rating
Action: Outlook: Positive
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West Reading Boro