Friday, October 24, 2014
Inquirer Daily News

Standard & Poor's: Lend Chester some $, they're good for it

Those depraved, backstabbing, anti-American bean counters at Standard & Poor's may have downgraded the United States' credit rating last week, but they made up for it in Delaware County by giving Chester a solid A rating.

Standard & Poor's: Lend Chester some $, they're good for it

Those depraved, backstabbing, anti-American bean counters at Standard & Poor's may have downgraded the United States' credit rating last week, but they're showing Delaware County some love by giving Chester a solid A rating.

The city of 37,000 residents along the Delaware River has been stoking the local economy in recent years, having lured PPL Park and Harrah's Chester Casino & Racetrack, along with several other businesses.

"This is the result of years of hard work, day in and day out, on all the little things that help balance a budget,” Mayor Wendell Butler, Jr. said of the S&P rating.

City officials say the A rating is Chester's first credit rating from S&P in at least 10 years. The rating means the city will likely be able to borrow money cheaper because it's in better financial shape to repay it. It's not as good as AA+, which is the current rating for long-term U.S. treasury bonds, but A is considered investment grade and is much better than Chester could have hoped for in the not-too-distant past.

So if Chester comes asking for some cash, go ahead and spot them a ten. They'll pay you, like, Tuesday and sh-t.

 

About this blog
In The Daily Delco blog, Daily News reporters William Bender and Stephanie Farr dig up all the dirt - from crazy crimes to political malfeasance and everything in between - in Delaware County.

E-mail tips to Bender at benderw@phillynews.com or call him at 215-964-2099. Follow him on Twitter: @wbender99

E-mail tips to Farr at farrs@phillynews.com or call her at 215-854-4225. Follow her on Twitter: @farfarraway

William Bender and Stephanie Farr
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