An arbitration award that ends minimum staffing levels for firefighters could save Bethlehem, Pa., about $1 million annually, according to the city’s mayor.

John Callahan said the three-member arbitration panel’s Oct. 21 ruling will give his city needed financial flexibility while keeping residents safe. Bethlehem had its long-term and underlying general obligation bond rating lowered in February to BBB from A-minus by Standard & Poor’s.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.