NEWS > BOROUGH BOND RATING UPGRADE
BOROUGH BOND RATING UPGRADE
Doylestown Borough Council is pleased to announce that Kroll Bond Rating Agency (KBRA) has upgraded the Borough’s bond rating to AA from AA- in its latest Surveillance Report.
The rating is based on KBRA’s U.S. Local General Obligation Rating Methodology, published on May 31, 2012. KBRA’s rating evaluation of the long-term credit quality of local government general obligation bonds focuses on four key rating determinants:
■ Governance, Management Structure and Policies,
The upgrade to AA is driven by a demonstrated trend of stability, enhancements to the governance and management framework, a continued low debt burden and overfunding of its pension plan, and an ability to maintain significant available reserves for operations. The AA rating is also supported by the Borough’s small but wealthy and stable tax base located near the Philadelphia employment center. In the process of assessing the rating, KBRA reviewed multiple sources of information and spoke with Borough management.
< Back to News