Summary: Camden County Improvement Authority, New Jersey Gloucester Township; General Obligation Jul 11

Standard & Poors, July 2011

Abstract
Standard & Poor's Ratings Services assigned its 'A' long-term rating and stable outlook to Camden County Improvement Authority, N.J.'s series 2011township-guaranteed lease revenue refunding bonds, issued for Gloucester Township, reflecting the township's full-faith-and-credit pledge according to a guaranty ordinance that the township adopted in 2002. The rating reflects our view of the township's: Strong wealth and income levels, and Low direct debt burden with limited additional debt and capital needs. We continue to consider the general fund balance at fiscal year-end 2010 (June 30) low on both a nominal and percent basis, despite the township's improved financial position. Officials plan to use bond proceeds to refund the authority's outstanding series 2002 township-guaranteed lease revenue bonds. Gloucester Township is a primarily...

Companies mentioned in this report are: Gloucester Twp,Camden Cnty Imp Auth
Action: New Rating
Action: Outlook: Stable

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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.

Gloucester Twp,Camden Cnty Imp Auth

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