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

S&P Global Ratings assigned its 'SP-1+' short-term rating to Hudson County, N.J.'s series 2016 bond anticipation notes (BANs). At the same time, we affirmed our 'AA' long-term rating on the county's existing general obligation (GO) debt as well as the 'AA' rating on Hudson County Improvement Authority, N.J.'s existing debt, issued for the county. We also affirmed the 'AA-' rating on the county's appropriation-backed debt. The outlook on all long-term ratings is stable. The county's full-faith, credit, and unlimited ad valorem levy pledge secures the 2016 notes as well as existing GO and authority bonds. Lease-rental payments made by the county secure the authority's outstanding certificates of participation. We understand proceeds from this BAN issue will be used to finance

...S&P Global Ratings assigned its 'SP-1+' short-term rating to Hudson County, N.J.'s series 2016 bond anticipation notes (BANs). At the same time, we affirmed our '##' long-term rating on the county's existing general obligation (GO) debt as well as the '##' rating on Hudson County Improvement Authority, N.J.'s existing debt, issued for the county. We also affirmed the '##-' rating on the county's appropriation-backed debt. The outlook on all long-term ratings is stable. The county's full-faith, credit, and unlimited ad valorem levy pledge secures the 2016 notes as well as existing GO and authority bonds. Lease-rental payments made by the county secure the authority's outstanding certificates of participation. We understand proceeds from this BAN issue will be used to finance various county capital projects. The 'SP-1+' short-term rating reflects our view of the county's:...

Summary