KBRA Affirms AA Rating with Stable Outlook for Borough of Doylestown, PA General Obligation Notes
19 Jan 2024 | 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
- 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.
- General fund revenue base is somewhat dependent on earned income taxes which can be cyclically sensitive.
- Sustained improvement of the Borough’s financial position.
- Trend of structural imbalance in operations.
- Significant deterioration in level of reserves or adverse developments in tax base.
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