KBRA Boosts New Jersey’s Bond Rating

nj.gov

For the fourth time in less than a month a major ratings agency has upgraded New Jersey’s credit rating, as Kroll Bond Rating Agency (KBRA) today boosted the state to ‘A+’ from ‘A’.

The move by KBRA follows similar upgrades from Moody’s Investor Service, S&P Global Ratings, and Fitch Ratings, each of which upped the rating on the State’s general obligation bonds in April.

This is KBRA’s first upgrade of the State’s rating since beginning coverage in 2015. In its report on the upgrade, KBRA cited the proposed record surplus and three full pension payments in as many years.