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Summary: Atlantic County, New Jersey; General Obligation; School State Program Jul 08 Product Image

Summary: Atlantic County, New Jersey; General Obligation; School State Program Jul 08

  • ID: 2027939
  • July 2008
  • Region: New Jersey
  • Standard & Poors

Abstract
The 'AA' standard long-term rating on Atlantic County, N.J.'s series 2008 general refunding bonds reflects the county's: Strong local economy that continues to be anchored by tourism and casino gaming and has shown growth in other, more stable sectors; Large tax base that continues to increase at a healthy rate due mainly to a high volume of residential development; Consistently strong financial position, strengthened by strong financial management practices; and Modest debt burden and limited future capital needs. The 'AA' standard long-term rating and Standard & Poor's underlying rating (SPUR) on the county's outstanding general obligation (GO) debt have been affirmed. The county's full faith and credit GO pledge secures the bonds. The county will use bond proceeds to refund...

Companies mentioned in this report are:
- Atlantic Cnty

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Atlantic Cnty

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