Philadelphia officials said yesterday investors face no immediate risk from union bargaining tactics, despite a city lawsuit that says the strategies could threaten bond payments.

The lawsuit, filed last week, centers on Philadelphia's labor contracts with its white collar unions. The contracts were supposed to expire July 1, but the Pennsylvania Labor Relations Board agreed late last month to extend them up to 60 days while a team of "fact finders" studies a series of bitter disputes holding up a new pact.

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