S&P Global Ratings assigned its 'AA' long-term rating to South Plainfield Borough, N.J.'s $7.5 million series 2021 general obligation (GO) refunding bonds and $6.3 million 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 Borough'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 and the bond anticipation notes (BANs). Proceeds of the bonds will permanently finance portions of South Plainfield Borough's BANs outstanding and refinance the borough's series 2012 bonds. The rating reflects the borough's balanced operating performance, inclusive of a return to surplus based on unaudited fiscal
