Fitch gives underlying A+ to N.J. EDA bonds

Fitch Ratings said it assigned underlying an A+ rating to $200 million of New Jersey Economic Development Authority (EDA) school facilities construction refunding bonds, 2008 series Y.

The 2008 series Y bonds will be issued as fixed-rate bonds maturing Sept. 1, 2010-2033 and will be issued in connection with about $250 million in variable-rate school facilities construction bonds, 2008 series X, to be offered separately.

Bond settlement is expected on or about June 3.

Simultaneously, Fitch affirmed the rating on $6.7 billion of outstanding school facilities construction parity bonds at A+. The outlook is stable.

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