municipal bonds

City Government
4:34 pm
Tue February 4, 2014

Pittsburgh's Municipal Bond Rating Continues to Improve

A decade ago, the city of Pittsburgh’s municipal bonds were a risky investment.

That’s a far cry from where the city is today, says Scott Kunka, director of finance for the city of Pittsburgh.

“Back in 2004, the city was essentially in junk bond grade, non-investment, and that was the year the city declared distressed status for Act 47,” said Kunka. “We’ve made about 12 to 13 increases in our credit rating over the last seven years, so it’s been a slow but steady rise.”

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