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5/14/2015 - Strong Economy, Management Earns Hamilton Stable Outlook from Standard & Poor’s

 

Strong Economy, Management Earns Hamilton
Stable Outlook from Standard & Poor’s

Click Here to View Report

 

While the State of New Jersey’s credit rating may have been downgraded recently, that is not the case in Hamilton Township.

Thanks in part to its “strong economy” and “strong management”, Standard & Poor’s Rating Service recently reaffirmed Hamilton’s long-term credit rating – giving the Township a stable outlook.  The stable outlook comes nearly a year after Standard & Poor’s awarded Hamilton a credit rating upgrade to ‘AA’ status (May 2014).

In its recent report, Standard & Poor’s based its outlook upon its view of Hamilton Township as having

ü  A strong local economy

o   Hamilton’s market value grew by 2.8% over the past year, while its projected per capita effective buying income ranks at 124% of the U.S. level.

ü  Strong Management

o   In its report, Standard & Poor’s stated the following:

“We view the Hamilton's management as strong, with "good" financial policies and practices under our Financial Management Assessment methodology…”

ü  Very strong liquidity

ü  Adequate budget performance

ü  Adequate budgetary flexibility

ü  Adequate debt and contingent liability profile

ü  Strong institutional framework

In its outlook, Standard & Poor’s reported that “The stable outlook reflects Standard & Poor's opinion of Hamilton's current operating performance, strong economy, and stable tax base.”

The report was triggered by Hamilton’s continued reinvestment in its infrastructure that provides sewer services to residents, as well as its existing general fund obligations (which Standard & Poor’s characterizes Hamilton’s overall net debt as “low”). 

“At a time when we have kept taxes stable while reinvesting in 31 new road repair projects and important public infrastructure, this positive report by Standard & Poor’s illustrates our administration’s continued prudent stewardship of our residents’ hard-earned tax dollars,” says Hamilton Township Mayor Kelly Yaede. “The benefit will be that as we continue to improve our roads, our sewer system and our public facilities, Hamilton’s stable credit rating will continue to translate into lower cost for our taxpayers, through lower interest rates.”