- 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.
- ETFs: MUB, PZA, MUNI, TFI, ITM, MLN, XMPT, SHM, SUB, PRB, SMB, PVI, SMMU, VRD, GMMB, RVNU
S&P lifts Philadelphia's rating by two notches
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