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

S&P Global Ratings assigned its 'AAA' long-term rating to the Monmouth County Improvement Authority, N.J.'s approximately $6.3 million series 2019 Brookdale Community College refunding lease revenue bonds, guaranteed by Monmouth County. At the same time, we affirmed our 'AAA' long-term rating on the county's existing general obligation (GO) debt and county-guaranteed debt issued through the improvement authority. The outlook is stable. The bonds are being issued to refund series 2009 Brookdale Community College refunding lease revenue bonds, guaranteed by Monmouth County. Present value savings are expected to total approximately $600,000, or 8.6%. Underpinning the county's credit strength is its management team, which historically achieved balanced current fund operations and sustained strong-to-very strong flexibility and liquidity, which we believe is critical

...S&P Global Ratings assigned its '###' long-term rating to the Monmouth County Improvement Authority, N.J.'s approximately $6.3 million series 2019 Brookdale Community College refunding lease revenue bonds, guaranteed by Monmouth County. At the same time, we affirmed our '###' long-term rating on the county's existing general obligation (GO) debt and county-guaranteed debt issued through the improvement authority. The outlook is stable. The bonds are being issued to refund series 2009 Brookdale Community College refunding lease revenue bonds, guaranteed by Monmouth County. Present value savings are expected to total approximately $600,000, or 8.6%. Underpinning the county's credit strength is its management team, which historically achieved balanced current fund operations and sustained strong-to-very strong flexibility and liquidity, which we believe is critical to maintaining the rating given long-term liability pressures that New Jersey local governments may experience should the state...

Summary