S&P Global Ratings assigned its 'AA+' long-term rating to Jackson Township, N.J.'s series 2020 general obligation (GO) bonds. At the same time, we affirmed our 'AA+' long-term rating on the township's existing GO debt. The outlook is stable. The bonds are secured by the township's full-faith-and-GO credit pledge. We understand proceeds from this issue will be used to refund existing bond anticipation notes (BANs) that are coming due Feb. 13, 2020, as well as finance $3.9 million in township capital needs. The township, among the largest geographically in the state, benefits from good access to broader employment bases as well as ongoing economic development, which has contributed to tax base growth and the maintenance of economic metrics in line with
