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Article: New Jersey manages revenue shortfall to keep S&P's 'AAA' go rating. (Standard and Poor's CreditWire)
- Article from:
- PR Newswire
- Article date:
- January 5, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. 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)
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/S&P CREDITWIRE/
NEW JERSEY MANAGES REVENUE SHORTFALL TO KEEP S&P'S 'AAA' GO RATING
NEW YORK, Jan. 5 /PRNewswire/ -- The State of New Jersey announced a further revenue erosion of some $135 million, bringing the shortfall total for the current year to $290 million in its $11.8 billion budget. The new estimates will be incorporated into the governor's budget message scheduled to be submitted to the Legislature Jan.26.
Anticipating slower growth in the economy and revenues, the state has already taken necessary initiatives to preserve fiscal integrity appropriate for S&P's triple-'A' rating on its $2.8 billion of general obligation bonds. ...