KBRA Releases Report Assigning A- Rating to NJTTFA Transportation Program Bonds, 2022 Series CC; Affirms Ratings for New Jersey GO and Related State Appropriation Credits; Outlook Remains Positive
On November 15, 2022 KBRA assigned a long-term rating of A- with a Positive Outlook to the New Jersey Transportation Trust Fund Authority (NJTTFA) Transportation Program Bonds, 2022 Series CC.
KBRA additionally affirmed the long-term rating of A with a Positive Outlook for the State of New Jersey's General Obligation Bonds.
Lastly, KBRA affirmed the long-term rating of A- with a Positive Outlook for the following bonds:
New Jersey Transportation Trust Fund Authority (NJTTFA)
New Jersey Economic Development Authority (NJEDA)
New Jersey Education Facilities Authority (NJEFA)
To access ratings and relevant documents, click here.
Click here to view the report.
Further informationon key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.
A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.
Information on the meaning of each rating category can be located here.
Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. 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.