CUSIP 6.19E+87
- ISIN: US618533E821
- Entity Name: Town of Morristown
- Sector: Municipal
- Announcement Date: 17-Aug-2018
- Effective Date: *****
- Issue Date: *****
- Maturity Date: 01-Jun-2032
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Rating Upgrade
- News: S&P Global Ratings has raised its long-term rating to `AA+` from `AA` on Morristown, N.J.`s general obligation (GO) debt and the Morristown Parking Authority`s (MPA) guaranteed parking revenue bonds. The outlook is stable. ""The upgrade reflects demonstration of management`s comprehensive planning and budget monitoring, very strong budget flexibility, and strong budgetary performance,"" said S&P Global Ratings credit analyst Lauren Freire, ""while addressing challenges related to higher pension and postemployment costs."" The GO bonds and notes are secured by the town`s full-faith and GO credit pledge and ultimately payable from ad valorem taxes that Morristown can levy on all taxable real property within its borders without limit to rate or amount. MPA bonds are secured by underlying authority parking revenues pursuant to the bond resolution. Morristown, with an estimated population of 19,154, is in Morris County. It encompasses three square miles and serves as the county seat. The town is roughly 35 miles west of Newark and New York City.
- Description: Municipal Name: Town of Morristown CUSIP: 618533E82 Currency: USD Town of Morristown announced today that the Standard & Poor`s Rating has upgraded the long-term ratings of the Series 2016, General Improvement Bonds from AA to AA+.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US618533E821
