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Summary: Upper Freehold Township, New Jersey; General Obligation Dec 11
Standard & Poors, December 2011
Standard & Poor's Ratings Services has assigned its 'AA' long-term rating to the township of Upper Freehold, N.J.'s series 2012 general obligation (GO) refunding bonds and affirmed its 'AA' long-term rating on the township's existing GO debt. The outlook is stable. The rating reflects the township's: Participation in strong, deep, and diverse economies in northern New Jersey, New York City, and Philadelphia; Extremely strong wealth and income indicators; Very strong reserves and liquidity; and Good management practices. In our opinion, a moderately high overall debt burden and elevated carrying charges partly mitigate these strengths. The bonds are a GO of the township. We understand officials will use bond proceeds to refund the series 2003 GO bonds. Upper Freehold consists of...
Companies mentioned in this report are: Upper Freehold Twp
Action: New Rating
Action: Outlook: Stable
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Upper Freehold Twp