Neptune Township, NJ GO Bond Raitng Raised Two Notches To #AA# Based On Local GO Criteria

Stocks and Financial Services Press Releases Tuesday March 4, 2014 08:40
NEW YORK--4 Mar--Standard & Poor's

NEW YORK (Standard & Poor's) March 3, 2014--Standard & Poor's Ratings Services said that it raised its rating on Neptune Township, N.J.'s general obligation (GO) bonds to 'AA' from 'A+', based on our local GO criteria released Sept. 12, 2013. The outlook is stable.

A pledge of the township's full faith credit and resources and an agreement to levy ad valorem property taxes without limitation as to rate or amount secure these bonds.
"The rating reflects our assessment of the township's strong budgetary flexibility and very strong liquidity," said Standard & Poor's credit analyst Danielle Leonardis.

"The stable outlook reflects our view of the township's consistent financial performance and economy, which is supported by good management," she added. The outlook is further supported by the township's very strong liquidity, strong budget flexibility, and adequate budget performance. We do not expect to revise the rating over the next two years because we believe the township will maintain adequate reserves and remain an integral part of the regional area economy.

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