...S&P Global Ratings assigned its '##' rating on Hudson County, N.J.'s series 2017 county college refunding bonds. At the same time, S&P Global Ratings affirmed its '##' rating on Hudson County's general obligation (GO) debt outstanding, its '##' rating on Hudson County Improvement Authority's GO-backed debt outstanding, and its '##-' rating on the county's appropriations-backed obligations outstanding. The outlook is stable. The county college bonds and GO bonds are secured by a pledge of the full faith and credit of the county and payable from ad valorem taxes, which may be assessed upon all the taxable property within the county without limitation as to rate or amount. We understand proceeds from this issue will be used to refund all or a portion of the county's college bonds, series 2010. Net present value savings is currently estimated at 4%. Hudson County's unconditional and irrevocable GO guarantee also secures the authority's bonds. In addition, for rated parity debt outstanding issued...
