CHICAGO (S&P Global Ratings) July 1, 2021--S&P Global Ratings said today that its rating and outlook on Franklin Township Board of Education (Somerset County), N.J.'s general obligation (GO; 'AA/Stable') debt are unchanged based on the district's diverse economy, adequate reserves, and low overall net debt that support stability. The district previously expected to issue its series 2021 taxable GO refunding bonds in February, but the bonds did not sell at that time. It plans to proceed with the sale shortly and the par amount has decreased to $59.5 million. In support of our view, the district's fiscal 2021 budget totals $167.9 million, or approximately 0.29% higher than fiscal 2020, and includes an appropriation of about $2.4 million in the fund
