Summary: Mahwah Township, New Jersey; General Obligation; Note

S&P Global Ratings assigned its 'AAA' long-term rating to Mahwah Township, N.J.'s series 2023 general obligation (GO) bonds ($17.3 million), consisting of $15.0 million in general improvement bonds, $1.5 million in water utility bonds, and $770,000 in sewer utility bonds. S&P Global Ratings also assigned its 'SP-1+' short-term rating to Mahwah Township's series 2023 bond anticipation notes (BANs) in the amount of $14.4 million. At the same time, S&P Global Ratings affirmed its 'AAA' rating on the township's GO debt outstanding. The outlook on all long-term ratings is stable. Securing debt service on the bonds is the township's full faith and credit, including the requirement to levy ad valorem taxes on all taxable property within its borders without limitation as

...Most recent Historical information 2021 2020 2019 Very weak debt & long-term liabilities Debt service % of governmental fund expenditures 11.9 10.9 12.7 Net direct debt % of governmental fund revenue 134 Overall net debt % of market value 1.8 Direct debt 10-year amortization (%) 58 Required pension contribution % of governmental fund expenditures 7.7 OPEB actual contribution % of governmental fund expenditures 6.0 Strong institutional framework EBI--Effective buying income. OPEB--Other postemployment benefits. Data points and ratios may reflect analytical adjustments....

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