Summary: New Brunswick Parking Authority, New Jersey New Brunswick; General Obligation; School State Program Jun 12
- Language: English
- Published: June 2012
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
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Morristown,Morristown Pkg Auth