Philadelphia School District Selling $575M of Trans for Cash-Flow Needs

Cataldo, Adam L.
June 2006
Bond Buyer;6/23/2006, Vol. 356 Issue 32409, p3
Trade Publication
The article reports the intent of the Philadelphia School District in Philadelphia, Pennsylvania to sell $575 million of tax and revenue anticipation notes as part of its annual cash-flow borrowing. Bank of America NA is supporting the notes with a direct-pay letter of credit. Moreover, Moody's Investors Service rates the notes MIG-1, while Fitch Ratings has rated them F-1.


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