More good bond news for an area government agency. The South Jersey Transportation Authority has retained a strong bond rating and a “Stable Outlook” from the three major bond rating services.
The three services, Moody’s Investor Services, Fitch Ratings and Standard & Poor’s Rating Services have each reaffirmed their ratings in anticipation of an upcoming sale of transportation bonds by the SJTA. This sale completes a transaction begun in June 2012 that will replace $117 million of bonds originally issued in 1999 with approximately $105 million in newly issued bonds. Savings will also be realized by paying down principal amounts and reduced interest costs.