Lower Providence Sewer, Pa., Upgraded to Aa2 by Moody's

Published September 16, 2015, 2:33 p.m. EDT

1 Min Read

Moody's Investors Service has upgraded the rating on Lower Providence Township Sewer Authority, Pa.'s guaranteed sewer revenue bonds to Aa2 from Aa3.

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The bonds are ultimately secured by the township's general obligation, unlimited tax pledge. The upgrade affects $7.1 million in GO debt.

The upgrade to Aa2 incorporates the township's improved financial position over the last few years, which has resulted in healthy reserve levels and liquidity. The Aa2 also factors the township's stable and moderately sized tax base, above-average demographic profile, and modest debt burden.

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