![]() The rating also considers the township's moderate leverage including debt, pension, and other post-retirement liabilities, and elevated fixed costs.We regard the coronavirus outbreak as a social risk under our ESG framework, given the substantial implications for public health and safety. The rating also reflects the expectation that the township's financial position will remain healthy, even with coronavirus driven declines in economically sensitive revenues leading to projected deficits in fiscal 20. The township is a Main Line suburb of Philadelphia, PA (A2 stable), and the demographics of its tax base are notably strong despite a large student population. ![]() The outlook is stable.RATINGS RATIONALEThe Aa1 rating reflects Radnor Township's large and affluent tax base with material institutional presence, and a reassessment in 2021 that is anticipated to result in a significant increase in full value. Moody's maintains the Aa1 rating on approximately $61 million of the township's outstanding GOULT debt. Rating Action: Moody's assigns Aa1 to Radnor Township, PA's Series of 2021 GO Bonds outlook is stableGlobal Credit Research - New York, Febru- Moody's Investors Service has assigned a Aa1 general obligation unlimited tax (GOULT) rating to the Township of Radnor, PA's $8.5 million General Obligation Bonds, Series of 2021.
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