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BRIEF-S&P says New Jersey outlook to stable from negative on likely stabilization of pension-funded ratio
August 25, 2017 / 3:07 PM / 3 months ago

BRIEF-S&P says New Jersey outlook to stable from negative on likely stabilization of pension-funded ratio

Aug 25 (Reuters) - S&P Global Ratings:

* S&P - New Jersey outlook to stable from negative on likely stabilization of pension-funded ratio; ‘A-’ GO debt rating affirmed‍​

* Says it has revised its outlook on the State of New Jersey to stable from negative‍​

* Says New Jersey’s high unfunded pension liabilities remain key credit considerations and a source of future budget pressure‍​

* Says we remain concerned about the ability of the state to achieve full ADC funding in five years

* Outlook revision reflects belief New Jersey's combined pension-funded ratio on GASB 67 basis to stabilize or improve over our one-year outlook horizon Source text: (goo.gl/Wb9g4M)

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