NEW YORK–(BUSINESS WIRE)–On December 18, 2019, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of A and Stable Outlook to the following State of New Jersey bonds:
General Obligation Bonds (Tax-Exempt) consisting of:
- Water Supply Bonds (1981) (Series M);
- Hazardous Discharge Fund Bonds of 1986 (Series J);
- Stormwater Management and Combined Sewer Overflow Abatement Bonds (1989) (Series H);
- Port of New Jersey Revitalization, Dredging, Environmental Cleanup, Lake Restoration, and Delaware Bay Area Economic Development Bonds (1996) (Series J);
- New Jersey Green Acres, Water Supply and Floodplain Protection, and Farmland and Historic Preservation Bonds (Series D); and
- New Jersey Library Construction Bonds (2017) (Series A)
General Obligation Bonds (Federally Taxable) consisting of:
- Securing Our Children’s Future Bonds (2018) (Series A)
KBRA additionally affirmed the long-term rating of A and Stable Outlook on the State of New Jersey’s outstanding General Obligation Bonds.
Lastly, KBRA affirmed the long-term rating of A- and Stable Outlook on the following New Jersey Economic Development Authority (NJEDA), New Jersey Educational Facilities Authority (NJEFA), and New Jersey Transportation Trust Fund Authority (NJTTFA) bonds:
- NJEDA State Lease Revenue Bonds (State Government Buildings – Health Department and Taxation Division Office Project), 2018 Series A;
- NJEDA State Lease Revenue Bonds (State Government Buildings – Health Department, Taxation Division Office and Juvenile Justice Commission Facilities Projects), 2018 Series B (Federally Taxable);
- NJEDA State Lease Revenue Bonds (State Government Buildings – Juvenile Justice Commission Facilities Project), 2018 Series C;
- NJEDA State Lease Revenue Refunding Bonds (Liberty State Park Project), 2015 Series A;
- NJEFA Revenue Bonds, Higher Education Capital Improvement Fund Issues.
- NJTTFA Transportation Program Bonds, 2019 Series AA
- NJTTFA Transportation Program Notes (Fixed Rate), 2014 Series BB-1
- NJTTFA Transportation Program Bonds, 2019 Series
To access the rating report, click here.
Related Publications: (available at www.kbra.com)
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KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
Paul Kwiatkoski, Managing Director
Patricia Mcguigan, Senior Director
Peter Scherer, Associate
Bill Baneky, Managing Director
James Kissane, Senior Director