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Mercer County, NJ's Strong Tax Base, Economic Growth; Sound Finances Support Upgrade To 'AA' Feb 07
Standard & Poors, February 2007
NEW YORK (Standard & Poor's) Feb. 1, 2007--Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Mercer County, N.J.'s GO debt one notch to 'AA' from 'AA-'. The outlook remains stable. The rating service also assigned its 'AA' rating, and stable outlook, to the county's $11 million series 2007 taxable GO refunding bonds. The upgrade reflects the county's continued strong property tax base expansion and economic growth; sound financial performance and improved reserves; and moderate debt burden, coupled with a manageable capital improvement plan. "We believe planned commercial and industrial expansions should bode well for Mercer County's property tax base and finances," said Standard & Poor's credit analyst John Sugden. "While management intends to...
Companies mentioned in this report are: Mercer Cnty
Action: New Rating
Action: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.