NEW YORK–(BUSINESS WIRE)–On the effective date of Dec. 22, 2016, Fitch Ratings will affirm the long-term rating of ‘AA-‘ and the short-term rating of ‘F1+’ assigned to the $30,000,000 City of Philadelphia, Pennsylvania Gas Works variable rate demand revenue bonds, fifth series A-2. The Rating Outlook for the long-term rating is Stable. The rating action is in connection with: (i) the substitution of the irrevocable direct-pay letter of credit (LOC) previously provided by JPMorgan Chase Bank (
