New Jersey

SumRidge Partners wants to help the growing number of independent wealth management firms trade faster and access more information when devising strategies for the municipal bond market.

Collingswood, N.J., Mayor James Maley late last month compared the junk bond rating assigned to his city to a gigantic nose pimple, because it “doesn’t really affect how you operate, but it makes you look really bad.”

Moody’s Investors Service said on Monday that New Jersey missing its revenue targets is a credit negative for the state.

The New Jersey Turnpike Authority is expected to issue $141 million of revenue bonds on Wednesday to refund its Series 2004C-1 bonds.

Officials from distressed municipalities discussed their financial situations at The Bond Buyer's Tri-State Area Public Finance Conference on Monday.

New Jersey’s tax collections for fiscal 2012 are up from the same period last year, but April results were below expectations, the Treasury Department said last week.

Moody’s Investors Service called New Jersey’s decline in gambling revenues is a credit negative for Atlantic City.

The New Jersey Board of Public Utilities’ $30 million rate increase for New Jersey-American Water Co. is a credit positive for parent American Water Works Co., Moody’s Investors Service said, because it will help improve operating cash flow.

Nassau County, N.Y., has selected New Jersey-based United Water to operate and improve the county's three troubled wastewater treatment plants.

The Port Authority of New York and New Jersey last week launched a nationwide search for a chief financial officer to replace Michael Fabiano, who has announced he will retire at the end of this year.

Since 2008, the issuance of general obligation debt guaranteed by local governments in New Jersey has almost tripled, according to a report by Moody’s Investors Service.

Moody’s Investors Service cut Lopatcong, N.J.’s general obligation bonds one notch to A1 from Aa3.

In the largest competitive sale scheduled this week, the New Jersey Economic Development Authority will sell $434.6 million of school facilities construction refunding bonds on Tuesday.

The New Jersey Garden State Preservation Trust is expected on Wednesday to sell $285 million of open-space and farmland preservation bonds to refund its Series 2003A and 2005A bonds.

The Port Authority of New York and New Jersey is expected to pay $60.3 million to BNP Paribas Capital Services Inc. on Monday after settling on a credit swap the bank previously announced it would terminate.

Derek Hansel will become the new executive director of the New Jersey Educational Facilities Authority on Tuesday.

The Port Authority of New York and New Jersey is scheduled to auction $400 million of its consolidated bonds on Wednesday.

The New Jersey Economic Development Authority is scheduled to sell $1 billion of cigarette-tax revenue refunding bonds on Tuesday, with retail pricing Monday.

The Fair Lawn, N.J., Board of Education expects to refund its bonds and take advantage of lower interest rates.

The New York Liberty Development Corp., which issues debt to help rebuild the World Trade Center, led the inaugural Bond Buyer 100 list of top bond issuers for 2011.