Summary: Atlantic City Board Of Education, New Jersey; Appropriations; School State Program Jan 12

Standard & Poors, January 2012

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

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

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

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