Summary: South Plainfield Borough, New Jersey; General Obligation

S&P Global Ratings assigned its 'AA' long-term rating to South Plainfield Borough, N.J.'s series 2018 general obligation (GO) bonds. At the same time, S&P Global ratings affirmed its 'AA' rating on the borough's GO debt outstanding. The outlook is stable. South Plainfield's full faith and credit pledge and its agreement to levy ad valorem property taxes without limitation as to rate or amount secure the bonds. Proceeds will permanently finance portions of the borough's bond anticipation notes (BANs) outstanding, as well as new capital projects. The rating reflects our opinion of the following factors for South Plainfield: Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); Strong management, with good financial policies and practices under

...S&P Global Ratings assigned its '##' long-term rating to South Plainfield Borough, N.J.'s series 2018 general obligation (GO) bonds. At the same time, S&P Global ratings affirmed its '##' rating on the borough's GO debt outstanding. The outlook is stable. South Plainfield's full faith and credit pledge and its agreement to levy ad valorem property taxes without limitation as to rate or amount secure the bonds. Proceeds will permanently finance portions of the borough's bond anticipation notes (BANs) outstanding, as well as new capital projects. The rating reflects our opinion of the following factors for South Plainfield: + Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA); + Strong management, with good financial policies and practices under our Financial Management Assessment methodology; + Strong budgetary performance, with balanced operating results in the general fund in fiscal 2016; + Adequate budgetary flexibility, with an available fund...

Summary