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KBRA Releases Rating Report Assigning A- Rating and Stable Outlook to NJTTFA Transportation Program Bonds and Notes
[September 13, 2019]

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


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

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.


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