Featured Municipal Bond in the Market, Week of 06/20/2016: Allegheny County, Pennsylvania
This week’s featured bond comes from the Allegheny County, Pennsylvania, which scheduled to issue $276 million in general obligation bonds, secured by the full faith and credit of the county, the week of June 20, 2016. The purpose of the bonds is largely to refund previously issued general obligation debt, with $70 million dedicated to various capital projects approved in the county’s capital budget. Further details can be found in Allegheny County’s preliminary official statement, provided by MuniOS. The Pittsburgh Metropolitan Statistical Area, which dominates Allegheny County, has an unemployment rate of 5.4% as of April 2016; which is lower than the national average of 5.0%.
Provided at left is a quick snapshot of financial characteristics of Allegheny County, compared with the sector medians for all states, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database. These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement.