Standard&Poor's Ratings Services has assigned its 'AA' long-term rating to Ocean City, N.J.'s series 2014 general obligation (GO) refunding bonds. At the same time, we affirmed our 'AA' long-term rating on the city's outstanding GO debt. The outlook is stable. The city's full faith and GO credit pledge secure the bonds. Officials will use bond proceeds to refund a portion of the city's series 2006 bonds. There is no extension of maturity and savings are taken evenly over the life of the bonds. The 'AA' rating reflects our opinion of the following factors for the city, specifically its: Strong local economy which serves as a regional beach destination for families in nearby states; Strong management environment and "good"
