Moody's Upgrades Pitman, NJ's GO to A1 from A2
New York, January 20, 2017-- Summary Rating Rationale. Moody's Investors Service has upgraded the Borough of Pitman, NJ's general obligation rating to A1 from A2. This rating action affects approximately $470,000 of the borough's $12.7 million outstanding debt.The upgrade reflects the borough's small, residential tax base, sustained positive trend in fund balance and replenishment of reserves, and above-average wealth and income levels.
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