JPMorgan will provide New Jersey with a $2 billion cash-flow borrowing facility, beating out 10 other firms to supply the Garden State with needed liquidity until it issues its yearly note deal.

Underperforming revenue streams have depleted the state’s cash flows. Officials may utilize the $2 billion credit line to meet spending needs in early fiscal 2010 as New Jersey will issue its annual tax and revenue anticipation note transaction in August or September.

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