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Bethlehem, PA's Continued Financial Improvement Backs 'BBB' GO Debt Rating Outlook Revision To Positive Feb 13
Standard & Poors, February 2013
NEW YORK (Standard & Poor's) Feb. 15, 2013--Standard & Poor's Ratings Services revised the outlook on its 'BBB' long-term rating and underlying rating (SPUR) on Bethlehem, Pa.'s general obligation (GO) debt to positive from stable. The outlook revision reflects Standard & Poor's assessment of the city's continued financial improvement and management's ongoing efforts to maintain at least balanced operations, as well as to maintain or increase general fund balance. At the same time, the rating service assigned its 'BBB' long-term rating and positive outlook to the city's $5.41 million series 2013A tax-exempt GO bonds and $8.4 million series 2013B federally taxable GO refunding bonds and affirmed its 'BBB' long-term rating and SPUR on the city's existing GO debt. "We believe...
Companies mentioned in this report are:
- Bethlehem Auth
Action: New Rating
Action: Outlook: Positive
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Research type: News
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- Bethlehem Auth