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Prospect News home > News index > List of issuers P > Headlines for Philadelphia Authority for Industrial Development > News item
Published on 5/1/2008 in the Prospect News Municipals Daily.

Moody's lifts Philadelphia bonds to Aaa/VMIG1

Moody's Investors Service said it upgraded the ratings to Aaa/VMIG1 from Baa1/S.G. on the Philadelphia Authority for Industrial Development's multi-modal lease revenue refunding bonds, 2007 series B, affecting $289.675 million of debt.

The bonds are supported by an irrevocable, direct-pay letter of credit from JPMorgan Chase Bank, NA and the Bank of New York.


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