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S&P Credit Research1458 word report
published Nov 03, 2009
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services has assigned its 'AA-' long-term rating to East Rutherford Borough, N.J.'s 2009 general improvement bonds, reflecting its participation in the New York City regional economy. The rating further reflects the borough's: Extremely strong yet concentrated tax base, with high industrial property value driven by its proximity to New York City; Historically strong financial position, offset by a trend of using the surplus in recent years; Standard financial management practices and the lack of a defined reserve policy while the fund balance has been decreasing; and Low debt burden, with steady amortization and limited capital needs. The borough's full faith and credit pledge secures the bonds. The borough will use the bond proceeds to refund outstanding
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: East Rutherford Borough, New Jersey; General Obligation Publication date: 03-Nov-2009 Primary Credit Analyst: Armen Hratchian, New York (1) 212-438-7983; armen_hratchian@standardandpoors.com Secondary...
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| Report Type: | Summary
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| Issuer: | East Rutherford Boro
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| Sector: | Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
