Dauphin (County of) PA -- Moody's removes provisional designation from A1 rating on Pennsylvania Economic Development Financing Authority, PA's $166M Junior Guaranteed Parking Revenue Bonds, Series...

New York, December 20, 2013 -- Moody's Investors Service has removed the provisional designation from the A1 rating on the Pennsylvania Economic Development Financing Authority's (PEDFA) $97 million Junior Guaranteed Parking Revenue Bonds, Series B and $69 million Junior Guaranteed Parking Revenue Bonds, Series C. The rating for the junior bonds is based on the issuer rating for Dauphin County, PA, as the county has guaranteed principal and interest on the Series B and Series C bonds. The Series C bonds also carry the guarantee of Assured Guaranty Municipal Corp. (AGM A2 stable) and the county would only be required to pay if AGM were to fail to make debt service payments. A separate report, published today, covers Moody's rating on the Series A bonds. Proceeds of all series will fund a portion of the "Harrisburg Strong" plan, the City of Harrisburg's recovery plan developed by the state-appointed receiver.

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