Summary: New Jersey Transportation Trust Fund Authority Series 2009C And 2009D Bonds Ratings Raised To ?AAA/A-1+?; Joint Criteria Dec 11
Standard & Poors, December 2011
Abstract
Standard & Poor's Ratings Services raised its rating on New Jersey Transportation Trust Fund Authority's system bonds series 2009C and 2009D to 'AAA/A-1+' from 'AAA/A-1', as a result of a substitution in enhancement that occurred on Dec. 15, 2011 (the substitution date). Both ratings reflect the application of joint criteria (assuming low correlation). The long-term components of the rating reflect the ratings on the obligor and the letter of credit (LOC) provider, Wells Fargo Bank National Association (AA-/A-1+). The long term components of the rating also reflect our opinion of the likelihood of payment for all events other than optional tender events. The short-term components of the rating reflect the short-term component of the rating on the LOC provider, and...
Companies mentioned in this report are: New Jersey Transp Trust Fd Auth
Action: Upgraded
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
New Jersey Transp Trust Fd Auth
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