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

December 2004
Bond Buyer;12/9/2004, Vol. 350 Issue 32026, p2
Trade Publication
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.


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