The Bond Buyer Monday incorrectly reported the sale date and a rating for this week's $450 million offering from the New Jersey Higher Education Student Assistance Authority. The deal is expected to be priced on Thursday by Merrill Lynch & Co., following a retail order period planned for tomorrow. In addition, Moody's Investors Service was not asked to rate the issue. The bonds are rated AA by Standard & Poor's and A-plus by Fitch Ratings.
An article on Standard & Poor's report on the Build America Bonds program misstated the rating agency's position on the federal government's development of an electronic system for delivering the federal subsidy to issuers. The report cites the federal government's statement that creation of such a system is a goal.