S&P raises Weehawken Twp Board of Education rating
Sept 12 (Reuters) - Standard & Poor's Ratings Services on Thursday raised its rating on Weehawken Township Board of Education, New Jersey's outstanding general obligation bonds to double-A from AA-minus.
The rating had previously been based on the New Jersey Fund for the Support of Free Public Schools, S&P said.
The outlook is stable.
The double-A rating reflects district's wealth which is due to its proximity to New York City, as well as its adequate fund balance, the rating agency said.
S&P also assigned the district's series 2013 refunding school bonds its double-A school issuer credit rating.
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