Summary: Verona Township Board of Education, New Jersey; General Obligation; School State Program

S&P Global Ratings revised the outlook to positive from stable on Verona Township Board of Education (BOE), N.J.'s existing general obligation (GO) debt and affirmed its 'AA-' rating on the debt. At the same time, we assigned our 'AA-' rating to Verona Township BOE's $9.395 million series 2024 GO refunding school bonds. The outlook is positive, reflecting our expectation that the district will maintain or further improve its reserve levels following a sustained build-up over the last five years, coupled with an above-average economic base and amortization of debt over the same period. The rating reflects the application of our "Methodology for Rating U.S. Governments" criteria, published Sept. 9, 2024, on RatingsDirect. The bonds are secured by the district's full-faith-and-GO

...+ S&P Global Ratings revised the outlook to positive from stable on Verona Township Board of Education (BOE), N.J.'s existing general obligation (GO) debt and affirmed its '##-' rating on the debt. + At the same time, we assigned our '##-' rating to Verona Township BOE's $9.395 million series 2024 GO refunding school bonds. + The outlook is positive, reflecting our expectation that the district will maintain or further improve its reserve levels following a sustained build-up over the last five years, coupled with an above-average economic base and amortization of debt over the same period. + The rating reflects the application of our "Methodology for Rating U.S. Governments" criteria, published Sept. 9, 2024, on RatingsDirect....

Summary