Moody’s Upgrades Pittsburgh’s Bond Credit Rating

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

Moody’s Investors Service upgraded Pittsburgh’s bond rating outlook from stable to positive Thursday, which Mayor Bill Peduto called a sign of improved financial health.

“The positive outlook reflects the steps the city has taken to reduce its long-term liabilities,” Moody’s wrote.

Along with the outlook upgrade, Moody’s affirmed its A1 rating on approximately $530 million in outstanding general obligation debt.

Standard & Poor’s ratings agency this week announced it is maintaining the city’s A+ bond rating, city officials said.

Read more: http://triblive.com/news/allegheny/6582680-74/peduto-plan-rating#ixzz39oyVSUz9
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