Summary: Cedar Grove Township Board Of Education, New Jersey; School State Program

S&P Global Ratings assigned its 'AA' long-term and underlying ratings to Cedar Grove Township Board of Education, N.J.'s series 2019 general obligation (GO) school bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term and underlying ratings on the board's existing GO debt. The outlook is stable. The district's full-faith-and-GO credit pledge secures the bonds. The bonds are further secured by the district's participation in the New Jersey Fund for the Support of Free Public Schools program. The district's credit profile, in our view, is stable due to the district's strong local economy with access to the New York City metropolitan statistical area (MSA). In addition, we think balanced operations and a total fund balance we consider strong

...S&P Global Ratings assigned its '##' long-term and underlying ratings to Cedar Grove Township Board of Education, N.J.'s series 2019 general obligation (GO) school bonds. At the same time, S&P Global Ratings affirmed its '##' long-term and underlying ratings on the board's existing GO debt. The outlook is stable. The district's full-faith-and-GO credit pledge secures the bonds. The bonds are further secured by the district's participation in the New Jersey Fund for the Support of Free Public Schools program. The district's credit profile, in our view, is stable due to the district's strong local economy with access to the New York City metropolitan statistical area (MSA). In addition, we think balanced operations and a total fund balance we consider strong provide further rating stability. We also do not expect major debt-profile changes due to limited capital needs. The rating reflects our opinion of the board's: + Access to diverse regional employment bases in New York City and northern...

Summary