Standard & Poor's Ratings Services assigned its 'A' long-term rating, and stable outlook, to Gloucester Township, N.J.'s general obligation (GO) refunding bonds, series 2010. At the same time, Standard & Poor's affirmed its 'A' rating on the township's GO bonds outstanding. The rating reflects our opinion of the township's: Low unreserved fund balance offset by strong wealth and income levels; and Low overall debt burden. The bonds are secured by the full faith and credit pledge of the township. Proceeds will be used to refund and redeem the township's callable GO refunding bonds, series 2001, outstanding maturing 2011-2014. Gloucester Township is primarily a suburban residential community located in Camden County, N.J., approximately three miles from the city of Camden and...
Companies mentioned in this report are:
- Gloucester Twp
Action: New Rating
Action: Outlook: Stable
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