A blog about living in Aberdeen, New Jersey.

Thursday, March 29, 2012

Moody's Lowers Aberdeen's Municipal Bond Rating

Moody's Investor Service announced on 27 Mar 2012 that it had lowered the municipal bond rating of Aberdeen, NJ to Aa3 from A1 due to the township's "weakened financial position following fund balance draws in each of the last seven years." This will raise the cost of borrowing on nearly $15 million in outstanding bonds.

It's been 3 days and I've seen nothing about this in the Asbury Park Press, the Patch, or even in Google Alerts. I had to hear about it from one of my anonymous readers. I, for one, would be very interested in some journalistic coverage of this major story.


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