Standard&Poor's Ratings Services assigned its 'AAA' rating and stable outlook to Monmouth County Improvement Authority, N.J.'s series 2014 governmental-pooled loan revenue bonds, supported by Monmouth County, and affirmed its 'AAA' rating, with a stable outlook, on the authority's existing appropriation debt, supported by the county. In addition, Standard&Poor's affirmed its 'AAA' rating, with a stable outlook, on the county's general obligation (GO) debt. The county's unconditional and irrevocable GO guarantee ultimately secures the bonds. Officials intend to use bond proceeds to make loans to certain municipalities and a school district in the county to refinance some of their bond anticipation notes, and finance other general improvements of these borrowers. The rating reflects our opinion of the
