Executive Director David E. Zimmer, CFA
New Jersey Infrastructure Bank
New Jersey Infrastructure Bank
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The rating is based on the large and diverse pool of 310 borrowers in the program, the overall credit quality of the borrower pool, substantial overcollateralization of loans-to-bonds
(including bond-financed I-Bank Loans and State-financed (i.e., non-bond-financed) Fund Loans) which results in a 53.5% program default tolerance (i.e., the highest percentage of pledged scheduled loan payments that can default through the life of the bonds without impairing full and timely payment of bond debt service), strong legal structure and proactive management.
