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Moody's Upgrades Chatham Township's GO to Aaa; Assigns Stable Outlook

NEW YORK - Moody's Investors Service has upgraded Chatham Township'S outstanding general obligation rating to Aaa from Aa1. This rating action affects approximately $5.8 million in rated debt. Concurrently, Moody's has assigned a stable outlook.

The Aaa rating reflects the township's sizable and affluent tax base located within commuting distance of the New York City (Aa2 stable) metropolitan job market. The rating also considers the township's history of strong financial operations leading to very strong reserves and low debt burden.

Rating OutlookThe stable outlook reflects the expectation that the township's finances will remain strong in the near-term. Obligor Profile

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Chatham Township is located in Morris County (Aaa stable) approximately 25 miles west of New York City. The township's population is 10,452 according to the 2010 US Census.

Methodology

The principal methodology used in this rating was US Local Government General Obligation Debt published in December 2016. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.

Regulatory Disclosures

For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be

 

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Chatham

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Fri, October 20, 2:00 PM

Madison Area YMCA, Madison

Blood Drive

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Sun, October 22, 1:00 PM

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Open House at 12 Surrey Lane, Madison

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Tue, October 24, 11:30 AM

Florham Park Library - New Jersey Room, Florham Park

Type 2 Diabetes Question and Answer Session at ...

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A Week at the Library of The Chathams Monday, October 16 – Sunday, October 22, 2017

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By Galina Natenzon

This week we are starting the next cycle of Coding for Kids.  The summer series of the program was a big success.  This time, in addition to the HTML class, we will have a class that introduces children to Scratch.  Registration is required and, due to high demand, is limited to Chatham residents.  Another highlight of the week is ...

Voicing Support for Ewald, Ness and Sheth for Chatham Township Committee

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Dear Editor:

I am writing to voice my support for Stacey Ewald, Tracy Ness and Shalil Sheth for Chatham Township Committee. I am a 20-plus year resident of Chatham Township having chosen this community largely because of the outstanding schools. However, a town should not rest its laurels on simply the reputation of its schools. We should be doing more to engage the community, ...

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