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Burlington County Bridge Commission, New Jersey Burlington County; Tax Secured, General Obligation Aug 05
Standard & Poors, Aug 2005
Abstract
Burlington County Bridge Commission, N.J.'s county-guaranteed pooled lease revenue bonds series 2005 have been rated 'AA', based on Burlington County's unconditional guarantee, along with the absolute and unconditional obligation of each participant to make annual debt service payments to the trustee. If any participant fails to make its respective payment, Burlington County is then required to make lease rental payments to the trustee on the participant's behalf. The county guarantee on the series 2005 bonds represents a full faith and credit GO pledge of Burlington County ('AA'/stable GO rating). Proceeds of the series 2005 bonds will be used by the pool participants to finance various capital improvements and equipment acquisitions. The series 2005 pool participants include the county itself, the...
Companies mentioned in this report are: Burlington Cnty,Burlington Cnty Br Comm
Action: New Rating
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.
Research Type: Full Analysis
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