CUSIP 0172856S1
- ISIN: US0172856S16
- Entity Name: County of Allegheny
- Sector: Municipal
- Announcement Date: 20-Jun-2018
- Effective Date: *****
- Issue Date: *****
- Maturity Date: 01-May-2027
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Rating Upgrade
- News: Moody`s Investors Service has assigned a Aa3 rating to Allegheny County, PA`s $90 million General Obligation Bonds, Series C-77. Concurrently, Moody`s has upgraded to Aa3 from A1, the rating on the county`s outstanding general obligation debt and revised the outlook to stable from positive. RATINGS RATIONALE The upgrade to Aa3 from A1 reflects the county`s large and growing tax base which benefits from the institutional presence of universities which have led to notable economic growth in medical and technology sectors, a trend that is expected to continue. Additionally, the rating incorporates the county`s improved financial position with satisfactory reserves and liquidity, slightly elevated debt burden which is expected to remain stable despite future plans to issue additional debt. The rating also incorporates the county`s elevated pension liability and above-average resident wealth and income levels. RATING OUTLOOK The stable outlook reflects our belief that the county`s tax base will continue to grow while its financial position will remain stable despite planned issuances of new debt. The outlook also incorporates our expectation that the county will begin addressing its ongoing pension underfunding.
- Description: Municipal Name: County of Allegheny CUSIP: 0172856S1 Currency: USD County of Allegheny announced today that the Moody’s Investors Service has upgraded the ratings of the Series 2000, Adjustable Rate Demand General Obligation bonds from A1 to Aa3.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US0172856S16
