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S&P Credit Research1148 word report
published Jul 02, 2009
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services assigned its 'AA-' rating, and stable outlook to Hamilton Township, N.J.'s series 2009 general obligation (GO) general improvement bonds. In our opinion, the rating reflects the township's: Stable local economy that benefits from its proximity to Atlantic City, N.J. and Philadelphia regional employment centers; Strong wealth and income levels; Modest, yet consistent, property tax base growth with no concentration among leading taxpayers; and Low debt burden with limited additional capital needs. Continued budget pressures due to increasing expenditures and limited revenue-raising flexibility somewhat offset these credit strengths. Officials will use bond proceeds to refund $2.98 million of bond anticipation notes (BANs) outstanding and provide $3.87 million to finance the cost of additional capital improvements. The
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Hamilton Township, New Jersey; General Obligation Publication date: 02-Jul-2009 Primary Credit Analyst: Linda Yip, New York (1) 212-438-2036; linda_yip@standardandpoors.com Secondary Credit Analyst:...
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| Report Type: | Summary
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| Issuer: | Hamilton Twp (Atlantic Cnty)
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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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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.
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