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S&P lifts Philadelphia's rating by two notches

  • S&P has upgraded Philadelphia for the third time in two years, increasing the city's general-obligation debt rating by two notches to A+ following three years of surpluses. The outlook is stable.
  • S&P cited a state oversight board called the Pennsylvania Intergovernmental Cooperation Authority as a major reason for Philadelphia's "strong budget performance."
  • The city's situation appears to stand in marked contrast to that of Chicago, which has huge pension obligations, and bankrupt Detroit.
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Comments (1)
  • Stealthe
    , contributor
    Comments (73) | Send Message
     
    City of brotherly got some love.
    24 Dec 2013, 09:24 AM Reply Like
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