The 'AA-' rating on Gloucester County, N.J.'s GO and county college bonds, series 2004, reflects: Access to employment opportunities throughout the Philadelphia, Pa. metropolitan area; Steady property-tax base growth; Continued sound financial performance; and Low net debt burden. These factors are mitigated by the county's sizable capital improvement plan. The bonds are secured by the county's full faith and credit pledge. Proceeds of the GO bonds will be used to finance various county capital projects and redeem the majority of the outstanding bond anticipation notes. The county college bonds will be secured by the county's pledge, but one-half of the principal and interest will be paid by the state. Proceeds of the county college bonds will be used for renovations...
Companies mentioned in this report are:
- Gloucester Cnty
Action: New Rating
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