Summary: Monmouth County Improvement Authority, New Jersey Monmouth County; General Obligation; General Obligation Equivalent Security

S&P Global Ratings assigned its 'AAA' rating to the Monmouth County Improvement Authority, N.J.'s series 2016B county-guaranteed pooled governmental pooled loan refunding revenue bonds, supported by Monmouth County. S&P Global Ratings also affirmed its 'AAA' rating on the county's existing general obligation (GO) debt. The outlook is stable. The full faith and credit pledge of the county ultimately secures the pooled governmental loan revenue bonds. The authority has a history of completing fixed-rate pooled financings on behalf of local governmental entities in the Monmouth County. The authority will use proceeds to refund county-guaranteed pooled governmental pooled loan refunding revenue bonds outstanding. Monmouth County's GO bonds are eligible to be rated above the sovereign because we believe the county can maintain

...S&P Global Ratings assigned its '###' rating to the Monmouth County Improvement Authority, N.J.'s series 2016B county-guaranteed pooled governmental pooled loan refunding revenue bonds, supported by Monmouth County. S&P Global Ratings also affirmed its '###' rating on the county's existing general obligation (GO) debt. The outlook is stable. The full faith and credit pledge of the county ultimately secures the pooled governmental loan revenue bonds. The authority has a history of completing fixed-rate pooled financings on behalf of local governmental entities in the Monmouth County. The authority will use proceeds to refund county-guaranteed pooled governmental pooled loan refunding revenue bonds outstanding. Monmouth County's GO bonds are eligible to be rated above the sovereign because we believe the county can maintain better credit characteristics than the U.S. in a stress scenario. Under our criteria, "Ratings Above The Sovereign: Corporate And Government Ratings--Methodology And Assumptions"...

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