Upper Gwynedd-Towamencin Municipal Authority, PA Credit Rating

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Date	Document Type	Title	Source
08 Oct 2019	Sector Comment	Municipal water utilities – Michigan: State budget provides funding for lead pipe removal, a credit positive	Moody's Investors Service
24 Sep 2019	Sector In-Depth	Local government – US: Growing exposure to heat stress mitigated by economic and fiscal strengths	Moody's Investors Service
18 Sep 2019	Sector Comment	State and local government – Michigan: GM strike a threat to Michigan economy, which still has substantial exposure to auto sector	Moody's Investors Service
04 Sep 2019	Sector In-Depth	Local government – Wisconsin: Slow economic expansion and property tax caps will constrain revenue growth	Moody's Investors Service
22 Aug 2019	Sector Comment	Local government – New Jersey: Municipalities receive more time to pay tax appeals, a credit positive	Moody's Investors Service
01 Aug 2019	Sector Comment	State government – Kentucky: Pension relief and buyout options for certain governmental entities are credit negative for the state	Moody's Investors Service
18 Jul 2019	Sector Comment	Local government – New York: New York State approves Westchester County´s sales tax increase, a credit positive	Moody's Investors Service
17 Jul 2019	Sector Comment	City (incl. Town, Village and Township) – New Jersey: Transitional aid uncertainty is credit negative for some New Jersey municipalities	Moody's Investors Service
28 Jun 2019	Sector In-Depth	Local government - New York: Credit profiles will remain stable overall, though vary by municipality type, region	Moody's Investors Service
12 Jun 2019	Sector Comment	State and local government and K-12 public school districts – Louisiana: Legislature’s focus on education and infrastructure is credit positive for schools, New Orleans and the state	Moody's Investors Service
05 Jun 2019	Sector Comment	Local government – US: Missouri court decision underscores credit risk of appropriation debt	Moody's Investors Service
04 Jun 2019	Sector Comment	Local government – Rhode Island: Continuing contract law’s credit implications will unfold over time, likely on a case-by-case basis	Moody's Investors Service
06 May 2019	Median Reports	Local government - US: Medians - Tax base growth underpins sector strength, while pension challenges remain	Moody's Investors Service
25 Apr 2019	Sector Comment	City (incl. Town, Village and Township) – Texas: Dallas-Fort Worth leads nation again in population growth, driving a housing boom	Moody's Investors Service
17 Apr 2019	Sector Comment	Environmental utilities - Utah: Metering of secondary water is credit positive for the state and local governments	Moody's Investors Service
05 Apr 2019	Sector Comment	Higher education, state and local government - Oklahoma: Opioid settlement credit positive for Oklahoma State University, local governments	Moody's Investors Service
01 Apr 2019	Sector In-Depth	Local government - Missouri: Population and economic growth are credit positive for urban areas	Moody's Investors Service
26 Mar 2019	Sector In-Depth	Cross-sector - US: Texas border cities vary in ability to withstand fiscal and economic challenges	Moody's Investors Service
22 Mar 2019	Sector Comment	State and local government - New Jersey: Law enabling creation of stormwater utilities is credit positive given proper execution	Moody's Investors Service
11 Feb 2019	Sector In-Depth	Local government - Connecticut: Financially strained municipalities face continuing fiscal challenges	Moody's Investors Service
01 Feb 2019	Sector Profile	Local government and higher education - US: Overview of state aid intercept programs	Moody's Investors Service
31 Jan 2019	Sector Comment	State and local government - Wisconsin: Foxconn’s missed job creation target is credit negative for Mount Pleasant, Racine County and Wisconsin	Moody's Investors Service
30 Jan 2019	Sector Comment	Local government - California : 49ers' winning tax appeal is credit negative for affected local governments	Moody's Investors Service
24 Jan 2019	Sector Comment	Public finance - District of Columbia, Maryland and Virginia: DC region, usually buttressed by federal presence, bears brunt of shutdown	Moody's Investors Service
17 Jan 2019	Sector In-Depth	Local government - US: Cities' heightened focus on mitigating climate risk is credit positive	Moody's Investors Service
17 Jan 2019	Sector Comment	Local government - New York: Ruling in casino revenue-sharing case is credit positive for several Western New York cities	Moody's Investors Service
18 Dec 2018	Sector In-Depth	Local government - US: Adjusted net pension liabilities rise for most of the 50 largest local governments in 2017	Moody's Investors Service
18 Dec 2018	Sector In-Depth	Local government - New Mexico : Pension burdens will continue to weigh on credit quality, prompting potential reform	Moody's Investors Service
17 Dec 2018	Sector Comment	Local government - Texas: Apple’s expanding Austin presence will boost region's competitive advantage in tech industry	Moody's Investors Service
14 Dec 2018	Sector In-Depth	Local government - Illinois: Ability to absorb pension costs supports exceptional credit quality for some cities	Moody's Investors Service
12 Dec 2018	Outlook	Public finance - US: 2019 Outlooks	Moody's Investors Service
05 Dec 2018	Outlook	Local government - US: 2019 outlook remains stable with tax revenue to grow modestly	Moody's Investors Service
15 Nov 2018	Sector Comment	New York City, District of Columbia and Arlington, VA: Washington DC and New York metro areas will benefit from Amazon's second headquarters	Moody's Investors Service
13 Nov 2018	Sector In-Depth	Local government - US: Amazon's HQ2 decision highlights cities' prime competitive advantages	Moody's Investors Service
09 Nov 2018	Sector Comment	State and local government - Nebraska: Nebraska's Medicaid expansion will be financed at the expense of downstream entities, negative for school districts	Moody's Investors Service
07 Nov 2018	Sector Comment	Local government - Maryland: Voters mandate gambling revenue bolster education funding, a credit positive for counties and City of Baltimore	Moody's Investors Service
07 Nov 2018	Sector Comment	State government - US: Voters in three states support expanded Medicaid coverage, a positive for states that expanded it earlier	Moody's Investors Service
07 Nov 2018	Sector Comment	Local government - Illinois: Springfield, Illinois-area schools will benefit from tax hike	Moody's Investors Service
07 Nov 2018	Sector Comment	State government - US: Approved ballot measures restrict states' fiscal flexibility, a credit negative	Moody's Investors Service
07 Nov 2018	Sector Comment	State government - US: Voters show mixed support for higher state taxes to fund transportation and schools	Moody's Investors Service
07 Nov 2018	Sector Comment	State and local government - Arizona: Arizona voters approve pension changes for correctional officers, a credit positive	Moody's Investors Service
26 Oct 2018	Sector Comment	State and local government - Florida: Florida will weather Hurricane Michael costs with minimal financial effect, a credit positive	Moody's Investors Service
24 Oct 2018	Sector Comment	State and local government and environmental utilities - Utah: Drought emergency points to credit-negative exposure to warmer temperatures	Moody's Investors Service
19 Oct 2018	Sector In-Depth	Local government – Virginia : Credit quality likely to remain healthy despite high debt burdens	Moody's Investors Service
05 Oct 2018	Sector Comment	State and local government - US: North American trade deal benefits border economies and large auto-producing states	Moody's Investors Service
08 Aug 2018	Sector Comment	Local government - New York : Deficit financing legislation helps distressed local governments but lacks teeth	Moody's Investors Service
19 Jul 2018	Sector In-Depth	Local government - US: Rural America confronts growing economic and demographic challenges	Moody's Investors Service
09 Jul 2018	Sector Comment	State and local government - Mississippi: Stronger contributions are positive, but pension funding will remain a challenge	Moody's Investors Service
26 Jun 2018	Sector Comment	Local government - Minnesota: Legislation will reduce pension liabilities, but changes are far from a cure-all	Moody's Investors Service
26 Apr 2018	Sector In-Depth	State and local government - Minnesota: Pension liabilities to remain elevated, despite potential reforms on the horizon	Moody's Investors Service

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