‘
Standard & Poor’s Ratings Services has increased Philadelphia’s bond rating to the highest in the city’s history, announcing a move up from A- to A+ today.
“Philadelphians should know that in very practical terms, a higher bond rating means a lower cost of borrowing,” said Mayor Michael Nutter in a statement announcing the rating. “I am very proud that the city’s bond rating has, once again, been upgraded.”
The rating reflects the city’s standing on it’s general obligation debt and indicates a stable outlook for the city’s long term finances.
This is Philadelphia’s third increased rating in the last two and a half years. In June 2013, the city’s rating was increased from BBB+ to A-, and in April 2012, from BBB to BBB+.
The June increase marked the first time in 30 years that the city’s credit was ranked A by the three major rating agencies.
____________________
Follow Sam Newhouse on Twitter: @scnewhouse
Follow Metro Philadelphia on Twitter: @metrophilly
Follow Metro Philadelphia on Facebook: Metro Philadelphia
It was an event filled second night of the NFL Draft for the Philadelphia Eagles.…
CINCINNATI - Bryce Harper continues to add to his impressive highlight reel in his time…
The Philadelphia Eagles came out of the first round of the 2024 NFL Draft with…
Phillies vs Padres: A 5-0 win over the Reds last time out helped the Phillies…
When the Philadelphia Eagles signed Parris Campbell to a one-year deal in March, it was…
By MARC LEVY Associated Press Democratic U.S. Sen. Bob Casey of Pennsylvania on Thursday proposed…
This website uses cookies.