New Jersey

Toms River's reluctance to pass a budget could further damage the school's rating, S&P said.

S&P Global Ratings cut the Toms River Regional School District to A-minus from A, ending a negative CreditWatch but assigning a negative outlook.

The rating agency cited New Jersey's "robust budgetary surplus" while continuing to make actuarially based pension contributions.

The mega-mall's investors will receive their second payment since the reserve fund ran dry in 2022.

Citing a "meaningful improvement in the state's balance sheet," S&P Global Ratings Monday upgraded New Jersey to A-plus from A.

Six years after opening, the mall has higher sales, more attractions, and a lower property value assessment.

New Jersey's Toms River school district was downgraded two notches by S&P after refusing to adopt a budget and discussing bankruptcy.

A New Jersey school district will likely avoid filing for bankruptcy after the state passed a budget that raised property taxes. 

As it fights with the state over funding, the board of the Toms River Regional School District refused to raise taxes and threatened a bankruptcy filing.

The Metropolitan Transportation Authority's congestion pricing tolls not only reduced traffic congestion in Manhattan, but also in New Jersey, a report says.

The cut to the American Dream mall's assessed value is a warning sign to bondholders whose debt payments are tied to how much the property is worth.

The state supreme court agreed to review the ruling in favor of a group of Wall Street banks that whistleblower Edelweiss said cost the state at least $100 million.

The deal includes a mix of new money and refunding, with a small forward-delivery series, as the authority plows forward with capital plans.

The $500 million deal was delayed after the tariff announcement rocked the markets. It has priced, but offering documents include new trade war disclosures.

Harvard University braved the most volatile market in years this week to price a $750 million taxable deal. Princeton is hot on its heels. 

The deal will raise money for general purposes as the Ivy League school faces cuts to government grants as the Trump administration attacks higher education.

Gov. Phil Murphy highlighted pensions and fiscal responsibility in his budget address. 

Trustees of New Jersey City University voted to approve the pursuit of a merger with Kean University, a larger fellow state university 12 miles away.

The muni market saw $507.585 billion of debt issued in 2024, up 31.8% from $385.061 in 2023. This surpasses the previous record of $484.601 billion in 2020 by more than $20 billion, per LSEG data.

The lowest-rated municipalities in the state are benefitting the most from current economic tailwinds, Moody's reports.