New Jersey Issuers in Market for Casino-Area Development, Clean Water

Cataldo, Adam L.
October 2004
Bond Buyer;10/13/2004, Vol. 350 Issue 31988, p6
Trade Publication
The article highlights that New Jersey-based Casino Reinvestment Development Authority is expected to price $93 million of hotel room fee revenue bonds. Raymond James & Associates Inc. is the lead underwriter on the deal. Moody's Investors Service has rated the bonds Baa1 and Standard & Poor's rates the authority's debt A minus. Moody's analyst Geordle Thompson says that the authority has issued debt before, but this is the first time they have issued debt using this revenue source. The $3 room fee generated about $14 million in the first 12 months since it was implemented July 1, 2003. The money will help to purchase open space and will provide for a variety clean water projects.


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