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 2020 general obligation (GO) bond anticipation notes (BANs), and assigned its 'AA' long-term rating to the county's series 2020 vocational-technical (vo-tech) school bonds. At the same time, S&P Global Ratings affirmed its 'AA' long-term rating on Hudson County's GO) debt and county guaranteed GO-backed debt, previously issued by the Hudson County Improvement Authority. In addition, we affirmed our 'AA-' long-term rating and underlying rating (SPUR) on the county's appropriation-backed obligations, and affirmed our 'SP-1+' short-term rating on the county's direct and guaranteed existing debt. The outlook, where applicable, is stable. The short-term rating reflects our opinion of Hudson County's general creditworthiness and market-risk profile, which we consider

...S&P Global Ratings assigned its 'SP-1+' short-term rating to Hudson County, N.J.'s series 2020 general obligation (GO) bond anticipation notes (BANs), and assigned its '##' long-term rating to the county's series 2020 vocational-technical (vo-tech) school bonds. At the same time, S&P Global Ratings affirmed its '##' long-term rating on Hudson County's GO) debt and county guaranteed GO-backed debt, previously issued by the Hudson County Improvement Authority. In addition, we affirmed our '##-' long-term rating and underlying rating (SPUR) on the county's appropriation-backed obligations, and affirmed our 'SP-1+' short-term rating on the county's direct and guaranteed existing debt. The outlook, where applicable, is stable. The short-term rating reflects our opinion of Hudson 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 BANs and...

Summary