Moody’s Upgrades New Providence Rating to Aaa

Moody’s Investors Service has upgraded New Providence, NJ’s general obligation unlimited
tax debt to Aaa from Aa1. Concurrently, we have assigned a stable outlook.
The Aaa rating reflects the borough’s strong financial operations with healthy reserve levels
and strong management. The rating also takes into account the borough’s sizeable tax base,
strong wealth and income levels, and low debt burden.  See Report Details.