S&P

Toms River's reluctance to pass a budget could further damage the school's rating, S&P said.

The college's most recent annual comprehensive financial report is for the fiscal year ending June 30, 2023, and S&P is concerned by the lack of timely reporting.

Citing a "meaningful improvement in the state's balance sheet," S&P Global Ratings Monday upgraded New Jersey to A-plus from A.

The ratings agency changed its outlook on its BBB-minus rating to negative from stable Wednesday.

S&P noted volume growth and solid operating margins at the large Florida-based healthcare system.

S&P Global Ratings primarily cited a "precipitous decline" in unrestricted cash to explain its triple-notch downgrade of the system.

S&P cited the government's improved fiscal position as a factor in the positive outlook.

The ratings agency cited strong and growing activity and favorable economic trends in the region.

Wittstruck takes over the S&P role previously held by Robin Prunty, who retired in August.

S&P Global Ratings placed more than 400 state and local government issuers under criteria observation as the agency adopts an updated rating methodology.