S&P Global Ratings assigned its 'SP-1+' short-term rating to the Hudson County Improvement Authority, N.J.'s approximately $95.2 million series 2024B county-guaranteed pooled notes consisting of series 2024B-1 (approximately $81.9 million; tax-exempt), and series 2024B-2 (approximately $13.3 million; taxable). The ratings on the county-guaranteed notes reflect our view of Hudson County's unconditional guarantee for full and prompt principal and interest payment when due and payable. The guarantee qualifies as a form of credit enhancement, and, in our view, reflects the county's unconditional promise to pay the guaranteed obligations on the due date when remedies against the primary obligors have been exhausted. In addition, the short-term rating reflects our opinion of the county's general creditworthiness ('AA/Stable' general obligation [GO] rating) and market-risk
