Fitch Still Negative on Pittsburgh Outlook Despite Recovery Plan

D'Ambrosio, Jill
July 2004
Bond Buyer;7/30/2004, Vol. 349 Issue 31937, p1
Trade Publication
Reports on the stability of the negative credit rating for Pittsburgh's BB-rated generation obligation debt despite the adoption of a financial recovery plan in Pennsylvania. Insufficiency of the substantive progression implementing the recovery road map; Lack of adequate liquidity to meet the state's obligations through the end the current fiscal year; Arrangement of financing with local banks to provide the needed cash infusion.


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