Summary: Upper Freehold Township, New Jersey; General Obligation Dec 11

Standard & Poors, December 2011

Abstract
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: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

Upper Freehold Twp

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