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"Our ratings reflect the progress the city has made over time on important issues like rebuilding reserves and improving the health of our pension fund," said Philadelphia Treasurer Jackie Dunn. ....
With limited support from the federal government, numerous cities would be able to pursue projects that improve their communities without sacrificing their budgets to debt service. ....
"When the rating agencies developed and rolled out their ESG scores, they said their ESG scores would not impact an issuer's credit rating. We are holding them to their word," said Ben Watkins, director of the state Division of Bond Finance. ....
"What are our options? You either pick these banks or you don't. If you don't, business shuts down. We stop building infrastructure," said state Treasurer John Schroder, the bond commission chair. ....
Proceeds will be used to refund some bonds that had been issued to finance or refinance eligible clean water and drinking water projects in the state. ....