Moody’s on Wednesday upgraded the bond rating of Allegheny County for the first time in 18 years from A1 to Aa3.
Aa3 is Moody’s fourth-highest rating.
The upgrade affects about $908 million in general obligation debt, including a new $90 million forthcoming issuance. Moody’s said in a release that the reasons for the upgrade include the county’s large and growing tax base, improved financial position with satisfactory reserves and liquidity, and a slightly elevated debt burden that is expected…
