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BRIEF-S&P says Pennsylvania 'AA-' GO debt rating placed on creditwatch negative due to budget uncertainty
July 6, 2017 / 3:58 PM / 4 months ago

BRIEF-S&P says Pennsylvania 'AA-' GO debt rating placed on creditwatch negative due to budget uncertainty

July 6 (Reuters) - S&P Global Ratings :

* S&P - Pennsylvania ‘AA-’ GO debt rating, other ratings placed on creditwatch negative due to budget uncertainty

* S&P on Pennsylvania - Significant likelihood that the commonwealth will not enact a structurally balanced budget for fiscal 2018

* S&P says could remove Pennsylvania’s ratings from creditwatch‍​, if lawmakers continue to negotiate & bring budget into structural alignment within 90-day timeframe

* S&P - creditwatch action reflects Pennsylvania’s eroding financial position

* S&P - Also placed ‘A+’ Appropriation Rating, ‘A’ Departmental Appropriation Rating, and ‘A-’ Moral Obligation on Pennsylvania on creditwatch with negative implications

* S&P on Pennsylvania- If legislators enact budget that relies on what we view as optimistic assumptions or one-time sources, would likely lower rating Source text : (bit.ly/2tMQFme)

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