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Toms River Maintains Positive Credit Rating

Long and short term bonding rated, officials say

Toms River has maintained a positive credit rating for short and long term borrowing from Moody's Investors Service, officials said this week.

The township maintains a 'Aa' rating for its long term boding practices and what is known as a '1+' rating for tax notes, commonly used as a bridge for short term projects.

Mayor Thomas Kelaher said the bond rating agency praised the township for its "low market risk profile" and "local budget liquidity" as well as the township's debt load.

The mayor, who credited Township Administrator Paul Shives with keeping the rating high, said the report on the township also kept a high rating due to its the likelihood Toms River will "continue its proactive approach to Sandy recovery efforts for the rest of 2013 and in 2014."

A bond rating acts the same way as a personal credit score: the higher the rating, the lower the interest rates township taxpayers must pay when Toms River borrows for capital projects and other reasons.

The 'Aa' rating is the agency's second highest rating next to 'Aaa,' out of nine potential rating scores.
grace December 14, 2013 at 01:18 PM
best place to live best place to buy heroin..come on down
letsgetreal December 15, 2013 at 11:18 AM
This is about the only positive thing about Toms River lately....
grace December 15, 2013 at 12:38 PM
lol and its probably a lie
1stcav December 15, 2013 at 01:18 PM
Would have been a triple Aaa ' if we didn't have a few things go wrong like: Ritacco, beast from the east theft, theft of funds from first aid , a music teacher selling school instruments, a secretary pay out for sexual harassment( workers Comp. claim )ect, ect.
grace December 15, 2013 at 03:52 PM
@1st cav a teacher having sex / assault during schours in her classroom..hidden by CHIEF mastro now sherriff/ roselli school super

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