Summary: Bergen County Utility Authority, New Jersey; Water/Sewer Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating to Bergen County Utility Authority (BCUA), N.J.'s series 2011A water pollution control system revenue refunding bonds. At the same time, Standard & Poor's affirmed its 'AA-' rating on BCUA's water pollution control system revenue bonds, which are on par with the proposed bonds. The outlook is stable. Generally, we view the credit quality of the 47 participating municipalities to be consistent with the rating. The rating reflects our view of: The authority's very strong service area economy, with strong economic and demographic characteristics; The strong likelihood that debt service payment will come from the contractual obligation requirements of BCUA's service contracts, which ultimately constitute a general obligation (GO) pledge of the...

Companies mentioned in this report are: Bergen Cnty Util Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

Bergen Cnty Util Auth

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