Tuesday, March 12, 2013
The rating Aa2 rating from Moody's was also upheld.
For the sixth year in a row, Standard and Poor’s (S&P) issued a AA bond rating for Atlantic County, government officials announced Tuesday morning, March 12. The county also maintained its Aa2 rating issued by Moody’s, according to officials. The Moody’s rating is based on strong financial management and modest debt burden, supported by conservative debt management practices. According to county officials, they plan to retire 94 percent of existing debt over the next 10 years, with the debt fully paid off within the next 20. AA is the second highest of 12 ratings S&P issues, and comes two months after County Executive Dennis Levinson discussed the impact of Superstorm Sandy and the waning casino industry as he introduced the proposed …
Saturday, December 22, 2012
The rating was initially issued last year.
In 2011, Standard and Poor’s (S&P) issued a AA/Stable rating to Galloway Township, and said it didn’t expect that to change “anytime within the next two years.” That statement has held up for at least one year, as S&P issued a AA/Stable rating to Galloway Township’s Series 2012 general obligation (GO) refunding bonds, and reaffirmed its previously-rated GO debt, according to the report provided by the township to Patch on Friday, Dec. 21. The report was issued on Dec. 3, prior to the township issuing final layoff notices and entering into a settlement agreement with former Township Clerk Lisa Tilton, who filed a lawsuit with the township in May. S&P rated the township’s financial management practices as “good,” and said the township’s debt…
Tuesday, November 29, 2011
Atlantic County's strong rating was earned in a difficult economy.
Standard and Poor's has affirmed the AA Bond Rating for Atlantic County, which has obtained record low interest rates on $9.5 million in capital improvement bonds, the county said on Monday, Nov. 28. Those bonds, which include 2011 general bonds, 2011 county college bonds, and 2011 state aid county college bonds, were sold at a net interest rate of 1.94 percent over 10 years, the county said. According to the county, the general bonds will be used toward several road improvements and support the construction of the Next Generation Aviation Research and Technology Park, while the college bonds will fund the expansion of Atlantic Cape Community College. S&P has affirmed the AA Bond Rating for the county, citing "strong financial management …
Tuesday, August 23, 2011
But it says unemployment in the township is higher than the state and national averages.
Standard and Poor’s has issued a ‘AA’ rating and stable outlook for Galloway Township, New Jersey’s series 2011A general obligation (GO) bonds and series 2011B GO refunding bonds, despite the fact that Galloway’s unemployment is higher than the state and national average. Standard and Poor’s does not expect the rating to change any time within the next two years. According to the report issued by Standard and Poor’s, the rating reflects the organization’s view of the township’s: “If you look at the debt, it’s extremely low, and our fiscal process is sound,” Mayor Keith Hartman said. “It speaks volumes for the fiscal policies we have in place. It shows we are doing the right thing, and S&P, who has no stake in this, says we’re doing the …
Red
2:22 pm on Tuesday, March 12, 2013
"These ratings are also important because they help us attract lower interest rates, thus saving the county significant money on capital improvements and other needs" And when will some of those "capital improvements" begin? The WHP over the causeway into AC is a disaster of potholes and just in time to greet the summer inflow of traffic to the already beleagured town. Maybe Levinson should use … more ›