The ‘A’ ratings for the New Jersey Educational Facilities Authority (NJEFA) revenue bonds, one notch below New Jersey’s ‘A+’ Issuer Default Rating (IDR), are based on annual contract payments made to the authority from the state treasurer, subject to annual appropriation. NJEFA, one of multiple state entities issuing debt supported by annual appropriations, provides financing for equipment, facilities construction or renewal, technology infrastructure, safety and other needs at higher education institutions, county colleges, libraries and related entities.
Fri 15 Sep, 2023