Moody's assigns Aa1 to Union County, N.J., bonds

Moody's Investors Service said it gave an Aa1 rating and stable outlook to Union County, N.J.'s $105 million of general obligation bonds.

The bonds consist of $83.7 million of general improvement bonds of 2008, $15.7 million of county vocational - technical school bonds of 2008 (New Jersey School Bond Reserve Act) and $5.6 million of county college bonds of 2008.

Sale of the bonds is scheduled for Feb. 20.

Concurrently, Moody's affirmed the county's Aa1 rating, affecting $410 million of county debt and $178 million of parity debt carrying the county's unlimited guarantee.

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