|
|
Article: Fitch Rates Jersey City's New Jersey Real Property Tax Appeal Rfdg Notes, Series 2008 B 'F2'.
- Article from:
- Investment Weekly News
- Article date:
- August 30, 2008
CopyrightCOPYRIGHT 2008 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Fitch Ratings assigns an 'F2' rating to Jersey City, New Jersey (the city) $4 million general obligation (GO) real property tax appeal refunding notes (TARNs), series 2008 B. The notes are scheduled to sell via competitive sale on Aug. 21, 2008. Additionally, Fitch downgrades the city's outstanding TARNS, series 2008 A to 'F2' from 'F1' and affirms the underlying 'BBB' rating on the city's approximately $407 million in GO bonds. The Rating Outlook is Stable.
The 'F2' rating reflects the city's long-term credit characteristics as reflected in its 'BBB' GO rating, the city's demonstrated market access, and the modest balance of outstanding TARNs (including this ...