Wednesday, February 5, 2014

Was Chester's credit rating suspended?

In a reported dated January 6, 2014, Standard&Poor's Rating Services removed its 'A' underlying rating on Chester general obligation debt from CreditWatch with negative implications, and simultaneously suspended the rating based on Chester's failure to supply Standard&Poor's with the timely information of satisfactory quality it had requested, in accordance with its policies. 

I haven't been to a City Council meeting lately so I don't know if this was discussed. If so, where do we stand now?

This is serious stuff. 

1 comment:

  1. Hope not because every city or state government has to borrow money and the interest rate that Chester would get charged would be quite excessive.