Moody's revises Pennsylvania's Montgomery Cty rating outlook
Aug 16 (Reuters) - Moody's Investors Service on Friday revised Pennsylvania's Montgomery County general obligation bond rating outlook to negative from stable, citing several years of operating deficits and a pattern of not making full pension contributions.
The rating agency affirmed its Aa1 rating on $384.2 million of long-term GO debt.
The outlook revision to negative reflects Moody's view that county management "will be challenged in the near term to... replenish financial reserves in an environment characterized by slow economic and employment growth."
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