PISCATAWAY, NJ – American credit rating agency, Standard & Poor’s continues to rank Piscataway high on its list of municipalities, once again giving the township the AA+ stable rating for its financial management practices.
“We view the township's management as very strong, with strong financial policies and practices under our financial management assessment methodology, indicating our view that financial practices are strong, well embedded, and likely sustainable,” according to a report from Standard & Poor’s.
Standard & Poor’s 2019 and 2020 general obligation rating of AA+ stable matches the 2018 upgrade by Moody’s of its general obligation rating from Aa2 to Aa1(stable), its second highest rating possible, township officials said on Thursday.
“Despite the disastrous economic policies from this White House that have wreaked unnecessary financial problems across the country, Piscataway continues to outperform and succeed,” Mayor Brian C. Wahler said in the news release. “Our model of sound financial practices and encouraging economic development in our community continues to pay enormous dividends for all Township families.”
Township officials said in the release that they “have been proud of the strong financial policies and practices that have attracted more companies to locate facilities in Piscataway, turning unused office buildings and brownfields into thriving sites of new commerce.”
“This new commercial revenue paid for the construction of the newly opened, $32 million YMCA at the Piscataway Community Center (YPCC), built with no residents’ tax monies,” they continued.
AA+ stable is the second highest rating the township has received since 2013.
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