![]() ![]() ![]() The township's population is about 37,000.METHODOLOGYThe principal methodology used in these ratings was US Local Government General Obligation Debt published in January 2021 and available at. The rating incorporates the township's satisfactory financial position and highly manageable leverage that will grow in the near to middle term.RATING OUTLOOKOutlooks are not typically assigned to local government credits with this amount of debt outstanding.FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS- Materially improved reserves and liquidity- Significant improvements in wealth and income levelsFACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS- Material and sustained draws on reserves and liquidity- Significant additional borrowing leading to outsized debt burden- Deterioration of existing wealth and income levelsLEGAL SECURITYAll of Cheltenham Township's debt is a general obligation of the township, payable from its general obligation unlimited tax pledge and backed by its full faith and credit pledge.PROFILECheltenham Township is located in Montgomery County, PA (Aaa stable), less than ten miles northeast of Center City in Philadelphia (A2 stable). This concludes our review of the rating that began on Janudue to lack of sufficient information.RATINGS RATIONALEThe confirmation of the Aa2 ratings reflects the township's large and growing property tax base, along with its strong income levels. The township has $17.1 million in net direct debt outstanding. Rating Action: Moody's confirms Cheltenham Township, PA's Aa2 GOULT ratingGlobal Credit Research - New York, Ma- Moody's Investors Service has confirmed Cheltenham (Township of), PA's Aa2 general obligation unlimited tax (GOULT) ratings. ![]()
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