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Camden County Improvement Authority, New Jersey Camden County; Tax Secured, General Obligation Oct 02
Standard & Poors, Oct 2002
Abstract
The 'A+' rating on Camden County Improvement Authority, N.J.'s lease revenue bonds, issued for and guaranteed by Camden County, reflects continued suburban economic growth and improved financial performance and position. Other positive rating factors include: The county's proximity to significant employment centers, A sizable property tax base, Sound financial performance of the Camden County Municipal Utilities Authority, and A moderate debt burden. The major credit weakness is the negative impact Camden, N.J. has on the county's overall economic/employment profile. The bonds are secured by a lease agreement between the improvement authority and the county. In addition, the bonds are secured by a county guarantee agreement. Under the agreement, the county pledges its full faith and credit and unlimited taxing power...
Companies mentioned in this report are: Camden Cnty,Camden Cnty Imp Auth
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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