NEW YORK (Standard&Poor's) June 8, 2010--Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to Waterford Township, N.J.'s series 2010 general obligation bonds. The outlook is stable. The rating reflects, in our opinion, the township's very strong wealth and income levels, low overall net debt burden, and strong financial position. The township's full faith and credit pledge secures the bonds. Officials plan to use bond proceeds for various capital improvements. Waterford Township occupies approximately 36.11 square miles in Camden County (AA-), located approximately 45 miles from Atlantic City. The township borders Burlington and Atlantic Counties and is bound in the south by Winslow Township and Chesilhurst Borough and in the west by Berlin Borough and Berlin Township.
