06.10.2016, 21:05
Fitch Rates Philadelphia, PA's Water & Sewer Rfdg Revs
OREANDA-NEWS. Fitch Ratings has assigned an 'A+' rating to the following Philadelphia, PA (the city) revenue bonds:
--Approximately $192,585,000 water and wastewater revenue refunding bonds, series 2016.
The city expects to sell the bonds in a negotiated sale on Oct. 13. Proceeds of the series 2016 bonds will be used to refund all or a certain portion of outstanding parity bonds (series 2007A, 2009A and 2010C) for interest cost savings and to pay issuance costs.
In addition, Fitch affirms the following rating:
--$1.72 billion in outstanding water and wastewater revenue bonds at 'A+'.
The Rating Outlook is Stable.
--Approximately $192,585,000 water and wastewater revenue refunding bonds, series 2016.
The city expects to sell the bonds in a negotiated sale on Oct. 13. Proceeds of the series 2016 bonds will be used to refund all or a certain portion of outstanding parity bonds (series 2007A, 2009A and 2010C) for interest cost savings and to pay issuance costs.
In addition, Fitch affirms the following rating:
--$1.72 billion in outstanding water and wastewater revenue bonds at 'A+'.
The Rating Outlook is Stable.
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