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KBRA Releases Rating Report Assigning A- Rating and Stable Outlook to NJTTFA Transportation Program Bonds, 2019 Series AA

January 7, 2019

NEW YORK--(BUSINESS WIRE)--Jan 7, 2019--On January 4, 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 Bonds, 2019 Series AA.

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 New Jersey Economic Development Authority (NJEDA) and New Jersey Educational Facilities Authority (NJEFA) bonds:

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.

The rating on the State’s General Obligation Bonds is based on KBRA’s . The ratings on the specified NJTTFA, NJEDA, and NJEFA bonds are based on the State’s long-term general obligation rating and an evaluation of the factors discussed in KBRA’s and are rated one notch below the State’s general obligation bonds.

To read the full report, click .

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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, is 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190107005933/en/

CONTACT: Analytical:

Paul Kwiatkoski, Managing Director

(646) 731-2387

pkwiatkoski@kbra.com

Patricia McGuigan, Director

(646) 731-3350

pmcguigan@kbra.com

Peter Scherer, Associate

(646) 731-2325

pscherer@kbra.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2019.

PUB: 01/07/2019 01:52 PM/DISC: 01/07/2019 01:52 PM

http://www.businesswire.com/news/home/20190107005933/en

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