NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of A with a Stable Outlook to the State of New Jersey’s General Obligation Bonds (Various Purpose) and affirmed the long-term rating of A with a Stable Outlook on the State’s outstanding General Obligation Bonds excluding bonds backed by a letter of credit or liquidity facility. After this issuance, the State will have approximately $2.3 billion of General Obligation debt outstanding.
KBRA has also affirmed the long-term rating of A- with a Stable Outlook to the State of New Jersey Economic Development Authority’s State Lease Revenue Refunding Bonds (Liberty State Park Project), 2015 Series A bonds.
This rating is based on KBRA’s U.S. State General Obligation Rating Methodology.
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About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).