Moody's Affirms Aa1/VMIG 1 on Philadelphia Gas Works' LOC-backed Bonds, Fifth Series A-2
New York, December 14, 2016-- Moody's Investors Service has affirmed the letter of credit- backed Aa1/ VMIG 1 ratings of the City of Philadelphia, Pennsylvania, Gas Works Variable Rate Demand Revenue Bonds, Fifth Series A-2 in connection with the replacement of the current LOC provided by JPMorgan Chase Bank, N.A. with an LOC provided by TD Bank, N.A.. Upon the effective date of the substitute LOC, currently scheduled for December 22, 2016, the long-term rating will continue to be based on...
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