FOR IMMEDIATE RELEASE:
July 30, 2026
CONTACT:
Derek Sands
DSands@BergenCountyNJ.gov
MOODY’S ASSIGNS HIGHEST POSSIBLE SHORT-TERM RATING TO BERGEN COUNTY IMPROVEMENT AUTHORITY FINANCING
HACKENSACK, N.J. – Bergen County Executive Jim Tedesco and the Board of County Commissioners today announced that Moody’s Ratings has assigned its highest short-term credit rating, MIG 1, to the Bergen County Improvement Authority’s $27.6 million County Guaranteed Lease Revenue Notes, Series 2026, which will finance construction of a new building on the campus of Bergen New Bridge Medical Center.
The action comes just three months after Moody’s reaffirmed Bergen County’s coveted Aaa bond rating, the highest long-term rating awarded by the agency, further reinforcing the County’s exceptional financial strength and disciplined fiscal management. Moody’s based the MIG 1 rating on Bergen County’s underlying Aaa credit quality and also maintained its existing MIG 1 rating on the County’s outstanding bond anticipation notes.
“Just a few months after Moody’s reaffirmed Bergen County’s Aaa bond rating, this latest action further validates the disciplined financial management that has defined our administration,” said County Executive Jim Tedesco. “Strong credit ratings aren’t just a point of pride. They allow us to invest in critical projects like the continued modernization of Bergen New Bridge Medical Center while borrowing at the lowest possible cost and protecting taxpayers.”
“I am proud to see Bergen County once again earn the highest rating available from Moody’s,” said Steven A. Tanelli, Chairman of the Bergen County Board of Commissioners. “This recognition reflects the responsible budgeting, long-term planning, and sound financial management that have become the standard in Bergen County. By maintaining the confidence of the credit markets, we can finance important projects at the lowest possible cost while continuing to deliver for our residents.”
A MIG 1 rating is Moody’s highest short-term municipal rating and signifies superior credit quality and an exceptional ability to meet short-term financial obligations. By earning the agency’s top rating, Bergen County can secure financing at the lowest possible borrowing costs, reducing interest expenses and ensuring more taxpayer dollars are directed toward essential public investments rather than debt service.
In its rating action, Moody’s cited Bergen County’s strong credit quality, as evidenced by its Aaa long-term rating, and noted the County’s guarantee of the financing as the basis for assigning the MIG 1 rating. The agency also maintained its existing MIG 1 rating on the County’s outstanding bond anticipation notes.
Please see Moody’s full rating action attached.
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