The outlook revision acknowledges Doylestown’s marked rebound in liquidity and improved operating performance following unexpected losses during the first half of fiscal year 2016.
Moody’s also assigned a “Baa2” rating to Doylestown’s proposed $45 million of series 2016A bonds, $18.8 million of series 2016B bonds and $11.7 million of series 2016C bonds.
The rating assignment reflects Doylestown’s strong market position and proactive management team.
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