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Fitch Ratings
Fitch Rates Pennsylvania's $405MM GOs 'AA'; Outlook Stable
June 8th, 2008
Fitch Ratings assigns an 'AA' rating to the Commonwealth of Pennsylvania's (the commonwealth) $405 million general obligation (GO) bonds. The bonds consist of the $325 million first series of 2008, due May 15, 2009-2028 and $80 million first refunding series of 2008, due Aug. 1, 2008-2013. The bonds are expected to be offered competitively on May 20. In addition, Fitch affirms the rating for the commonwealth's $7.8 billion outstanding GO bonds at 'AA'. The Rating Outlook is Stable. The 'AA' rating and Stable Outlook reflect the modest debt burden and generally conservative financial operations tempered by a slower-growing economy and challenging demographics....
Source: Pharma Investments, Ventures & Law Weekly (2008-06-08)
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