S&P Raises Philadelphia's Bond Rating

By PBJ Staff | Philadelphia Business Journal
|  Monday, Dec 23, 2013  |  Updated 5:17 PM EDT
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S&P Raises Philly's Bond Rating

Philadelphia's economy just got a shot in the arm.

Standard & Poor’s Ratings Services raised Philadelphia’s general obligation bond rating to an A+, it's highest rating ever. That's up from an A-.

"We view the City's management conditions as very strong, with strong financial practices,” said S&P Analyst Hilary Sutton. The report also noted the city’s “very strong liquidity” and “strong budgetary performance.”

In the past two-and-a-half years, S&P upgraded the city’s rating three times.

Prior to the upgrade in June 2013, it had been more than 30 years since the City was rated in the A category by all three major rating agencies, the Mayor's office reported.  Read more on this story at PBJ.com

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