Woodbridge May Experience "Severe Credit Stress" Because of Sandy, Says Moody's
The bond rating agency marked Woodbridge as one of six local governments that could have short and long-term financial woes because of Hurricane Sandy.
Six local government entities were singled out by Moody's Investor Service, one of the big three municipal bond rating agencies, in a report as potentially coming under "significant credit stress" because of the impact of Hurricane Sandy in late October. Three Jersey shore towns - Seaside Heights, Atlantic City and Brick Township - made Moody's list of those facing financial stress because of the hurricane's damage and destruction. Also on that short list was Woodbridge. While some sections of Woodbridge Township are at or near the water, such as Sewaren and Port Reading, the municipality is relatively sheltered next to southern municipalities directly on the Jersey shore. The township's potential financial problems are less about the …
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Tom Maras
3:50 pm on Monday, November 19, 2012
Right on Bi! more ›