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 on Hudson County, N.J.'s series 2017 general obligation (GO) bond anticipation notes. At the same time, we affirmed our 'AA' long-term rating on Hudson County's existing GO debt, 'AA' rating on Hudson County Improvement Authority's existing GO-backed debt, and 'AA-' rating and 'SP-1+' short-term ratings on the county's existing appropriations-backed obligations. The outlook on all long-term ratings is stable. The 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

...S&P Global Ratings assigned its 'SP-1+' short-term rating on Hudson County, N.J.'s series 2017 general obligation (GO) bond anticipation notes. At the same time, we affirmed our '##' long-term rating on Hudson County's existing GO debt, '##' rating on Hudson County Improvement Authority's existing GO-backed debt, and '##-' rating and 'SP-1+' short-term ratings on the county's existing appropriations-backed obligations. The outlook on all long-term ratings is stable. The 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 GO pledge. We understand the series 2017 note proceeds will be used to refund prior outstanding bond anticipation...

Summary