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Summary: Perth Amboy Board Of Education, New Jersey; School State Program Sep 11 Product Image

Summary: Perth Amboy Board Of Education, New Jersey; School State Program Sep 11

  • Published: September 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' rating and stable outlook to Perth Amboy Board of Education, N.J.'s series 2011 general obligation (GO) refunding school bonds. The rating reflects the additional security provided by the New Jersey Fund for the Support of Free Public Schools. As authorized by Article VIII, Section 4 of the New Jersey Constitution, the fund pledges a portion of its assets for the district's debt service should it be unable to meet principal and interest payments. The bonds carry a specific contractual relationship between the bondholder and the state fund. The treasurer acts as agent for the fund and, if needed, applies money from the support fund to purchase maturing principal and interest due from...

Companies mentioned in this report are: Perth Amboy Brd of Ed
Action: New Rating
Action: Outlook: Stable

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Perth Amboy Brd of Ed

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