New Jersey

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.

The Port Authority of New York and New Jersey is aggressively going after uncollected toll revenue, filing 14 civil suits on Tuesday against what it calls the most egregious toll violators.

Pennsylvania’s General Assembly has advanced to the Senate a bill requiring an annual financial and management audit of the Delaware River Joint Toll Bridge Commission by auditors in both the Keystone State and New Jersey.

Moody's Investors Service affirmed the A1 rating on the township of Little Egg Harbor's general obligation bonds, affecting $13.4 million of outstanding parity debt obligations.

Moody's Investors Service revised Collingswood's rating direction to uncertain from downgrade review, but maintained its Ba1 junk-bond rating on $28 million of outstanding long-term general obligation debt.

The executive director of the Port Authority of New York and New Jersey said an audit report that upbraided the bistate agency is an effective wakeup call.

Detractors say the Port Authority of New York and New Jersey is too big and secretive, overcharges commuters, carries way too much debt, and shouldn't run point for the World Trade Center redevelopment.

The Englewood Cliffs Board of Adjustment’s approval of plans to build a new LG Electronics headquarters is a credit positive for the New Jersey borough, according to Moody’s Investors Service.

While Gov. Chris Christie trumpeted a New Jersey comeback in his budget message, his proposed $32.1 billion spending plan for fiscal 2013 hinges on revenue projections that still must materialize.

The Port Authority of New York and New Jersey will earmark about half a billion dollars to renovate the 80-year-old George Washington Bridge, using money from toll and fare increases the bi-state agency recently implemented.

Stung by a scathing auditor's report that called the Port Authority of New York and New Jersey dysfunctional, its board of commissioners responded by saying it would not be business as usual at the bi-state agency.