Summary: New Jersey Environmental Infrastructure Trust; State Revolving Funds/Pools Apr 11
- ID: 1712089
- April 2011
- Region: New Jersey
- Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services has affirmed its 'AA' long-term rating, with a stable outlook, on New Jersey Environmental Infrastructure Trust's series 1998C and 1998D bonds. These bonds are not included in the trust's master trust state revolving fund program. The ratings reflects the following: Security provided from a pool of loans pledged to repayment of the bonds through loan service agreements between the trust and pool participants; Payment of debt service that is only dependent on pool assets rated 'AA' or higher; Various bondholder protections that include a state aid intercept provision, borrower rate covenants, and a full faith and credit pledge of the underlying communities to repay the loans; and A trust level debt service reserve for each...
Companies mentioned in this report are: New Jersey Envir Infrastructure Trust
Action: Outlook: Stable
SHOW LESS READ MORE >