Pennsylvania GO Debt Rating Lowered To #AA-# On Weakened Financial Position and Increased Expenditure Pressures

Stocks and Financial Services Press Releases Friday September 26, 2014 08:56
NEW YORK--26 Sep--Standard & Poor's

NEW YORK (Standard & Poor's) Sept. 25, 2014--Standard & Poor's RatingsServices lowered its rating on Pennsylvania's general obligation (GO) debtoutstanding to 'AA-' from 'AA' and its rating on the commonwealth'sappropriation-backed debt outstanding to 'A+' from 'AA-'. Standard & Poor's

also lowered its rating on several tax increment bonds guaranteed by thecommonwealth to 'A' from 'A+' and lowered its rating on Pittsburgh & AlleghenySports and Exhibition Authority's moral obligation debt outstanding to 'A-'from 'A'. The outlook is stable.

"The downgrade reflects our view of the state's diminished financialflexibility and growing expenditure pressures due to inaction on pensionreform and limited revenue growth," said Standard & Poor's credit analyst JohnSugden.


Latest Press Release

Fitch Upgrades Thailand#s IRPC to #A(tha)#; Outlook Stable

Fitch Ratings (Thailand) has upgraded IRPC Public Company Limited's National Long-Term Rating and senior unsecured rating to 'A(tha)' from 'A-(tha)'. The Outlook is Stable. Fitch has also upgraded IRPC's National Short-Term Rating to 'F1(tha)' from...

SET hosts exclusive forum for 31 embassies to showcase Thailand investment potential

The Stock Exchange of Thailand (SET) hosted "Embassies @ SET" Forum in Bangkok. The first-ever forum has gathered together 50 diplomatic professionals of 31 embassies in Thailand to gain insights into investment opportunities in the Thai capital market,...

KBank supports Revenue Department in pioneering e-Tax Invoice and e-Receipt service

KASIKORNBANK PCL (KBank) will be the trailbrazer in launching the e-Tax Invoice and e-Receipt service to allow business operators to submit these documents to the Revenue Department with swiftness while also reducing their tax management cost. Ms. Kitiya...

Thai Prime Minister Opens CLMVT Forum 2019 Calling for synergy to transform the region into the new value chain hub of Asia

Thailand's Prime Minister General Prayut Chan-o-cha today officially opened the CLMVT Forum 2019 on 24 June, 2019 at the Renaissance Bangkok Rachaprasong Hotel, and delivered a keynote speech highlighting the forum's theme of "CLMVT as the New Value...

Photo Release: EXIM Thailand Finances Asia Green Energys Investment in Lighter Fleet to Promote Thai Maritime Potential

Mrs. Warangkana Wonkhaluang, Senior Executive Vice President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Panom Kuansataporn, Chief Executive Officer of Asia Green Energy Plc., recently signed a loan agreement whereby EXIM Thailand provided...

Related Topics