Press Release|Public Finance
KBRA Affirms AA Rating with Stable Outlook for Borough of Doylestown, PA - G.O.
16 Jan 2025 | New York
KBRA affirms the long-term rating of AA with a Stable Outlook for the Borough of Doylestown, PA's General Obligation Notes.
Key Credit Considerations
The rating was affirmed because of the following key credit considerations:
Credit Positives
- Strong wealth and income levels coupled with stable employment base with proximity to large regional employment centers.
- Strong available reserves relative to operations and ample liquidity.
- Low debt burden.
Credit Challenges
- General fund revenue base is somewhat dependent on earned income taxes which can be cyclically sensitive.
Rating Sensitivities
For Upgrade
- Sustained improvement of the Borough’s financial position.
For Downgrade
- Trend of structural imbalance in operations.
- Significant deterioration in level of reserves or adverse developments in tax base.
To access ratings and relevant documents, click here.