MIDDLE TOWNSHIP’S BOND RATING IMPROVES

The financial standing of Middle Township has improved, according to a top credit agency. Moody’s improved the bond rating has been improved from an Aa3 rating with a negative outlook to an Aa3 rating with a positive outlook. According to the summary provided by Moody’s, the negative outlook on Middle Township’s $7.4 million of outstanding general obligation debt has been removed. The bonds are secured by the Township’s unlimited property tax pledge. In the report, Moody’s cites various strengths of Middle Township’s fiscal policies including a moderately sized tax base with a healthy population growth; a low and manageable debt profile; and a modest pension burden.