A report released by the Standard & Poor’s Rating Services on June 5 declared Mercer County’s fiscal outlook as stable.
The report also assigned an AA+ long-term rating to Mercer County Community College’s general obligation bonds series 2013 and affirmed its AA+ long-term rating and underlying rating (SPUR) on the county’s outstanding general obligation debt.
The rating service also affirmed the AA+ long-term rating on Mercer County Improvement Authority, New Jersey’s outstanding general obligation debt, which the county guarantees.
S&P noted Mercer County’s “steady financial performance and the maintenance of good reserve levels stabilized by ongoing tax base expansion.” In its report, S&P cited Mercer County’s diverse employment base, its five institutions of higher learning, its vast healthcare technology sector, its hosting of state government and its geographic position between New York and Philadelphia as factors for its affirmation.
S&P also recognized Mercer County’s “manageable’’ capital improvement plan, stable financial position and its low debt, according to the report.
