Fitch Ratings last week affirmed its AA rating and stable outlook on Pennsylvania’s approximately $8.7 billion of general obligation debt.
While the commonwealth now has an approved $27.8 billion fiscal 2010 budget, that spending plan relies upon a table games bill. Gov. Edward Rendell has said the new gambling initiative needs to generate $200 million or more in new revenue. The additional revenue will help support certain programs designated as non-essential services at higher educational institutions and other organizations.