KBRA Releases Rating Report Assigning A- Rating and Stable Outlook to NJTTFA Transportation Program Bonds and Notes

NEW YORK–(BUSINESS WIRE)–On September 11, 2019, Kroll Bond Rating Agency (KBRA) assigned a long-term rating of A- and Stable Outlook to the New Jersey Transportation Trust Fund Authority’s (NJTTFA):

Transportation Program Notes (Fixed Rate), 2014 Series BB-1
Transportation Program Bonds, 2019 Series

KBRA additionally affirmed the long-term rating of A and Stable Outlook on the State of New Jersey’s General Obligation Bonds.

Lastly, KBRA affirmed the long-term rating of A- and Stable Outlook on the following NJTTFA, New Jersey Economic Development Authority (NJEDA), and New Jersey Educational Facilities Authority (NJEFA) bonds:

NJTTFA Transportation Program Bonds, 2019 Series AA
NJEDA State Lease Revenue Bonds (State Government Buildings – Health Department and Taxation Division Office Project), 2018 Series A;
NJEDA State Lease Revenue Bonds (State Government Buildings – Health Department, Taxation Division Office and Juvenile Justice Commission Facilities Projects), 2018 Series B (Federally Taxable);
NJEDA State Lease Revenue Bonds (State Government Buildings – Juvenile Justice Commission Facilities Project), 2018 Series C;
NJEDA State Lease Revenue Refunding Bonds (Liberty State Park Project), 2015 Series A;
NJEFA Revenue Bonds, Higher Education Capital Improvement Fund Issues.

Issuer: New Jersey Transportation Trust Fund Authority
Read moreSeoul Dragon City Hotel Creates Dazzling Lighting Displays with HARMAN Professional Solutions Assigned	Rating	Outlook
Transportation Program Notes (Fixed Rate), 2014 Series BB-1	A-	Stable
Transportation Program Bonds, 2019 Series BB	A-	Stable
Affirmed	Rating	Outlook
Transportation Program Bonds, 2019 Series AA	A-	Stable
Issuer: State of New Jersey
Affirmed	Rating	Outlook
General Obligation Bonds	A	Stable
New Jersey Economic Development Authority
Affirmed	Ratings	Outlook
State Lease Revenue Bonds (State Government Buildings – Health Department and Taxation Division Office Project), 2018 Series A	A-	Stable
State Lease Revenue Bonds (State Government Buildings – Health Department, Taxation Division Office and Juvenile Justice Commission Facilities Projects), 2018 Series B (Federally Taxable)	A-	Stable
State Lease Revenue Bonds (State Government Buildings – Juvenile Justice Commission Facilities Project), 2018 Series C	A-	Stable
State Lease Revenue Refunding Bonds (Liberty State Park Project), 2015 Series A	A-	Stable
Issuer: New Jersey Educational Facilities Authority
Affirmed	Rating	Outlook
Revenue Bonds, Higher Education Capital Improvement Fund Issues	A-	Stable

To access the report, click here.

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About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

Contacts

Analytical Contacts:

Paul Kwiatkoski, Managing Director

(646) 731-2387

pkwiatkoski@kbra.com

Peter Scherer, Associate

(646) 731-2325

pscherer@kbra.com