...S&P Global Ratings assigned its 'SP-1+' short-term rating to Hudson County Improvement Authority, N.J.'s series 2018A county-guaranteed pooled notes, consisting of the tax-exempt series 2018 A-1 notes and federally taxable series 2018 A-2 notes. The 'SP-1+' short-term rating reflects our opinion of the county's general creditworthiness and market risk profile, which we consider low. The low market risk profile reflects our view of the county's strong legal authority to issue long-term debt to take out the notes, as well as its ongoing disclosure to market participants. The obligation of the county is absolute and unconditional and secured by its full faith and credit general obligation (GO) pledge. The 2018A governmental-pooled notes are being used to provide funds to make loans to certain municipal borrowers, including Union City, the Township of Weehawken, and Weehawken Special Improvement District, in order to refinance bond anticipation notes and tax appeal refunding notes outstanding....
