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Jersey City’s Bond Rating Downgraded by S&P Due to Financial Strain
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Jersey City’s Bond Rating Downgraded by S&P Due to Financial Strain
S&P Global Ratings downgraded Jersey City’s general obligation bond rating from ‘A+’ to ‘A’ on June 26, citing increased expenses, deferred charges, and a weakened reserve position that limit the city’s financial flexibility.The outlook remains stable, reflecting expectations that the city will achieve balanced operations in fiscal year 2025, grow its reserves, and continue repaying special emergency authorizations. The rating action followed th…
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