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Old 02-05-2014, 01:01 PM
 
2,290 posts, read 3,743,774 times
Reputation: 1745

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10 years ago, S&P slashed Pittsburgh to junk status under the Murphy administration. The city, in many ways, has transformed itself in those 10 years... optimism and confidence now reign. Much work remains regarding municipal finances, but the trajectory is positive and the momentum is real.

Standard and Poor's ups city credit rating - Pittsburgh Post-Gazette


Quote:
The city announced this afternoon that its credit rating was increased from A stable to A+ stable, which the agency said is recognition that the city “will likely maintain its ongoing efforts” to improve its finances. The rating had increased from bbb to A stable in June.
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Old 02-05-2014, 03:05 PM
 
Location: The canyon (with my pistols and knife)
14,138 posts, read 22,076,910 times
Reputation: 17193
Wouldn't it be cool if schools gave the same grades that credit agencies do?

"Hey, mom! I got straight BBB's!"
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Old 02-05-2014, 03:09 PM
 
Location: Pittsburgh, PA
6,329 posts, read 8,914,383 times
Reputation: 4037
Doesn't this make it easier for the city to borrow money at a lower interest rate?
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Old 02-05-2014, 06:45 PM
lde
 
53 posts, read 116,761 times
Reputation: 20
Good news.
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Old 02-05-2014, 07:02 PM
 
Location: Pittsburgh, PA (Morningside)
14,323 posts, read 16,358,675 times
Reputation: 12335
Quote:
Originally Posted by bradjl2009 View Post
Doesn't this make it easier for the city to borrow money at a lower interest rate?
Yes.
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Old 02-05-2014, 08:02 PM
 
1,010 posts, read 1,367,329 times
Reputation: 381
Quote:
Originally Posted by bradjl2009 View Post
Doesn't this make it easier for the city to borrow money at a lower interest rate?
The city buildings are in deplorable shape. I cant see them borrowing money anytime soon though
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Old 02-06-2014, 11:50 AM
 
6,576 posts, read 8,691,909 times
Reputation: 4629
Quote:
Originally Posted by zman63 View Post
The city buildings are in deplorable shape. I cant see them borrowing money anytime soon though
What does city buildings have to do with this?

Why don't you see them borrowing money soon?
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Old 02-11-2014, 03:02 PM
 
Location: South Hills
632 posts, read 832,574 times
Reputation: 432
Some nice progress has been made for sure. But we are still deep in the hole.
We need to keep whittling away at that debt.

We don't want to become Detroit, where we can no longer afford basic city
services, and pensioners find themselves stuck with ten or twenty cents on the dollar.
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