TITLE

Ship Bottom, N.J., Raised by Moody's

PUB. DATE
December 2004
SOURCE
Bond Buyer;12/9/2004, Vol. 350 Issue 32026, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Moody's Investors Service Inc. said it has assigned an A3 rating to the borough of Ship Bottom, New Jersey's $3.4 million general obligation bonds, 2004, and upgraded to A3 from Baa2 the rating on $7.3 million in parity debt outstanding, including this issue. The upgrade to A3 reflects a near doubling of the borough's New Jersey shore tax base over the last five years and healthy finances with a current fund balance that has exceeded 25% of revenues for the last four years. Also factored into assignment of the A3 rating is the borough's low debt burden.
ACCESSION #
15317149

 

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