Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to Franklin Township Board of Education (Somerset County), N.J.'s series 2015 general obligation (GO) school bonds and affirmed its 'AA' rating, with a stable outlook, on the district's existing GO debt. The rating reflects our opinion of the district's general creditworthiness, including its: Diverse local economy with excellent access to the broader central and northern New Jersey and New York City employment bases, Historically very strong wealth and income levels and below-average unemployment, Good finances with surpluses in two of the past three fiscal years, and Low debt with limited future capital needs. The district's full-faith-and-credit-GO pledge secures the bonds. We understand officials will use bond proceeds to
