Summary: Cliffside Park Borough, New Jersey; General Obligation Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating and stable outlook to Cliffside Park Borough, N.J.'s series 2012 general improvement bonds and affirmed its 'AA' rating, with a stable outlook, on the borough's existing general obligation (GO) debt. Standard & Poor's also affirmed its 'AA' issuer credit rating (ICR), with a stable outlook, on the borough. The rating reflects our view of the borough's: Mature and primarily residential character with access to the greater New York City and northern New Jersey employment centers; Stable property tax base and, what we consider, extremely strong market value per capita; Good income; Sound finances, coupled with, what we view as, strong reserves; and Low debt and limited additional capital needs. The borough's...

Companies mentioned in this report are: Cliffside Pk Boro
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.

Cliffside Pk Boro

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