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Summary: Gloucester (Township Of), New Jersey; General Obligation; Note May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services assigned its 'A' long-term rating, and stable outlook, to Gloucester Township, N.J.'s series 2011 general obligation (GO) bonds and its 'SP-1+' short-term rating to the township's series 2011 bond anticipation notes (BANs). Standard & Poor's also affirmed its 'A' long-term rating and underlying rating (SPUR), with a stable outlook, on the township's existing GO debt. The 'A' rating reflects our view of the township's: Strong wealth and income levels, and Low overall debt burden with limited additional debt and capital needs. Despite an improved financial position, we continue to view the general fund balance at fiscal year-end June 30, 2010, low on both a nominal and percent basis. The township's full-faith-and-credit pledge secures the bonds....
Companies mentioned in this report are: Gloucester Twp
Action: New Rating
Action: Outlook: Stable
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