Summary: Deptford Township, New Jersey; General Obligation; General Obligation Equivalent Security - S&P Global Ratings’ Credit Research

Summary: Deptford Township, New Jersey; General Obligation; General Obligation Equivalent Security

Summary: Deptford Township, New Jersey; General Obligation; General Obligation Equivalent Security - S&P Global Ratings’ Credit Research
Summary: Deptford Township, New Jersey; General Obligation; General Obligation Equivalent Security
Published Oct 12, 2018
7 pages (3145 words) — Published Oct 12, 2018
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Abstract:

S&P Global Ratings assigned its 'AA' rating to Deptford Township, N.J.'s series 2018 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA' rating on the township's GO debt outstanding. The outlook is stable. The township's full-faith-and-credit pledge secures the GO bonds. Bond proceeds will permanently finance the township's bond anticipation notes outstanding and will provide some new money to fund various capital projects. Management has implemented a number of formalized policies and practices in recent years that we believe demonstrate its commitment to strong financial practices. In addition, the township's tax base is stable and strong, due, in part, to it being a bedroom community of Philadelphia. In our view, the township's proactive management team

  
Brief Excerpt:

...S&P Global Ratings assigned its '##' rating to Deptford Township, N.J.'s series 2018 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its '##' rating on the township's GO debt outstanding. The outlook is stable. The township's full-faith-and-credit pledge secures the GO bonds. Bond proceeds will permanently finance the township's bond anticipation notes outstanding and will provide some new money to fund various capital projects. Management has implemented a number of formalized policies and practices in recent years that we believe demonstrate its commitment to strong financial practices. In addition, the township's tax base is stable and strong, due, in part, to it being a bedroom community of Philadelphia. In our view, the township's proactive management team and its strong and stable economic base have been particularly important factors in maintaining balanced financial operations and very strong reserves, which are above the levels of many peers. This has...

  
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Summary

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Public Finance
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Deptford Township, New Jersey; General Obligation; General Obligation Equivalent Security" Oct 12, 2018. Alacra Store. Oct 18, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Deptford-Township-New-Jersey-General-Obligation-General-Obligation-Equivalent-Security-2112816>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Deptford Township, New Jersey; General Obligation; General Obligation Equivalent Security Oct 12, 2018. New York, NY: Alacra Store. Retrieved Oct 18, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Deptford-Township-New-Jersey-General-Obligation-General-Obligation-Equivalent-Security-2112816>
  
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