• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: Morristown Parking Authority, New Jersey Morristown; General Obligation Nov 10
Standard & Poors, November 2010
Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Morristown Parking Authority, N.J.'s series 2010 guaranteed parking revenue bonds, issued for Morristown, N.J., and affirmed its 'AA' rating, with a stable outlook, on the town's existing general obligation (GO) debt. The rating reflects the security provided by the town's GO pledge. The rating also reflects our view of the town's: Access to New York City's and northern New Jersey's deep, diverse labor markets; Very strong income and wealth levels; Good financial position; and Low overall debt burden and rapid principal amortization. Officials plan to use bond proceeds to current refund the authority's series 2002 and 2004 guaranteed revenue bonds outstanding and fund a debt service reserve...
Companies mentioned in this report are: Morristown,Morristown Pkg Auth
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.
Morristown,Morristown Pkg Auth