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Summary: Atlantic City Board Of Education, New Jersey; Appropriations; School State Program Jan 12
Standard & Poors, January 2012
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating and 'A+' issuer credit rating (ICR) to Atlantic City Board of Education, N.J.'s $5.4 million refunding school bonds. At the same time, Standard & Poor's affirmed its 'AA-' long-term and underlying ratings (SPUR) and 'A+' ICRs on the district's outstanding general obligation (GO) bonds, as well as its 'A' long-term rating on the district's outstanding certificates of participation. The outlook is stable. The 'AA-' long-term rating reflects our opinion of the additional security provided by the New Jersey Fund for the Support of Free Public Schools. The 'A+' ICR reflects our view of the board's: Strong financial position, as characterized by increasing reserves; Substantial, but highly concentrated, property tax base;...
Companies mentioned in this report are: Atlantic City Brd Of Ed
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.
Atlantic City Brd Of Ed