Summary: Hudson County, New Jersey Hudson County Improvement Authority; 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 Improvement Authority, N.J.'s series 2018C county-guaranteed pooled notes, consisting of the tax-exempt series 2018C-1 notes and federally taxable series 2018C-2 notes. At the same time, S&P Global Ratings affirmed its 'AA' rating on Hudson County's general obligation (GO) debt outstanding, its 'AA' rating on the authority's GO-backed debt outstanding, and its 'AA-' rating on the county's appropriations-backed obligations outstanding. The outlook on all long-term ratings 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 notes,

...S&P Global Ratings assigned its 'SP-1+' short-term rating to Hudson County Improvement Authority, N.J.'s series 2018C county-guaranteed pooled notes, consisting of the tax-exempt series 2018C-1 notes and federally taxable series 2018C-2 notes. At the same time, S&P Global Ratings affirmed its '##' rating on Hudson County's general obligation (GO) debt outstanding, its '##' rating on the authority's GO-backed debt outstanding, and its '##-' rating on the county's appropriations-backed obligations outstanding. The outlook on all long-term ratings 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 notes, as well as its ongoing disclosure to market participants. The county's obligation is absolute and unconditional, and is secured by its full faith and credit GO pledge. The...

Summary