S&P rates N.J. Transit bonds AA-

Standard & Poor's said it assigned an AA- rating to the New Jersey Economic Development Authority's $339.015 million series 2008A transportation project sublease rental refunding bonds issued for New Jersey Transit Corp. Light Rail Transit System.

The bonds are due May 1, 2019.

S&P also affirmed its AA rating on outstanding insured general obligation bonds issued by the authority. The outlook is stable.

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