NEW YORK (Standard&Poor's) April 6, 2004—Standard&Poor's Ratings Services assigned its 'AAA' rating to Monmouth County, N.J.'s $25 million general obligation improvement bonds series 2004A and $39.115 million general obligation refunding bonds series 2004B, reflecting the county's strong local economic base centered on the health care and telecommunications industries; a diverse and rapidly growing tax base; wealth and income levels that exceed both state and national levels; consistently strong financial position, with substantial operating surpluses and current fund balance levels; and an increasing, yet manageable, overall debt burden. The outlook is stable based on the expectation that the county's local economy will continue to diversify and grow. It is expected that the county's strong financial position, as
