Moody's Investors Service said it upgrades Randolph Township, N.J.'s $3.3 million outstanding long-term GO to Aaa from Aa1.
Concurrently, Moody's assigns a Aaa rating to the township's $15.3 million 2015 general obligation bonds.
The upgrade to Aaa reflects the township's large, wealthy, and growing tax base in Morris County. The rating also incorporates the township's ample current fund reserve and liquidity levels, as well as township's below average debt burden.
There is "a lot of nervousness in the Treasury market right now" ahead of the FOMC meeting, said Tim Iltz, fixed income credit and market analyst at H.J. Sims. That nervousness helped the 10-year UST hit 5% on Monday.
At stake is at least a $5.9 billion contract and the stability of electrical provision on the island.
Counties and states are moving ahead with replicable, bond-financed affordable housing funding models as new regulations designed to jump start community development are still working their way through the pipeline.
The lowered outlook is a sign of negative momentum for the district, which could affect how its paper prices in the primary and secondary markets.
Most recently, mutual funds saw outflows of $430 million on Friday, driven by negative $544 million fund flows from open-ended funds, offsetting the $113 million of inflows from ETFs, according to J.P. Morgan.
Senators from western states sent a letter to two federal agencies to address preparations for an extended fire season.
