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
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