S&P Global Ratings assigned its SP-1+' short-term rating to Monmouth County, N.J.'s $19.500 million series 2020 reclamation center utility bond anticipation note (BAN). The short-term rating on the note reflects our criteria for evaluating and rating BANs. In our view, the county maintains very strong capacity to pay principal and interest when the note comes due. We view its market risk profile as low because it has strong legal authority to issue long-term debt to take out the note. The county is a frequent debt issuer that regularly provides ongoing disclosure to market participants. Proceeds from the note will roll reclamation center BANs outstanding and provide temporary financing for various capital improvements. Underpinning the county's credit strength is its management
