Summary: Hudson County Improvement Authority, New Jersey Hudson County; Appropriations; General Obligation; General Obligation Equivalent Security; Note; School State Program

Standard&Poor's Ratings Services assigned it 'SP-1+' short-term rating to Hudson County Improvement Authority, N.J.'s series 2016A county-guaranteed pooled notes issued for Hudson County. At the same time, we affirmed our 'AA' long-term rating on the county's existing general obligation (GO) debt as well as the authority's, existing 'AA' rated debt issued for the county. We also affirmed the 'AA-' rating on the county's appropriation-backed debt. The outlook on all the long-term ratings is stable. The series 2016 governmental-pooled notes are a direct and special obligation of the authority. We understand officials plan to use proceeds to, among other things, provide funds to make loans to Union City, the Township of Weehawken and the Weehawken Special Improvement District to

...Standard & Poor's Ratings Services assigned it 'SP-1+' short-term rating to Hudson County Improvement Authority, N.J.'s series 2016A county-guaranteed pooled notes issued for Hudson County. At the same time, we affirmed our '##' long-term rating on the county's existing general obligation (GO) debt as well as the authority's, existing '##' rated debt issued for the county. We also affirmed the '##-' rating on the county's appropriation-backed debt. The outlook on all the long-term ratings is stable. The series 2016 governmental-pooled notes are a direct and special obligation of the authority. We understand officials plan to use proceeds to, among other things, provide funds to make loans to Union City, the Township of Weehawken and the Weehawken Special Improvement District to finance various capital items as well as refund prior outstanding notes. The bonds are secured by those revenues of the authority derived from the loan repayments made by these municipal borrowers pursuant to the...

Summary