Kroll Bond Rating Agency Assigns Long-Term Rating of A- with Stable Outlook to the New Jersey Educational Facilities Authority Revenue Bonds, Higher Education Capital Improvement Fund Issue, Series 2016B and Series 2016C Bonds

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) has assigned a long-term rating of A- with a Stable Outlook to the New Jersey Educational Facilities Authority (the “Authority” or “NJEFA”) Revenue Bonds, Higher Education Capital Improvement Fund Issue, Series 2016B and Series 2016C Bonds. The issuance of the Bonds is expected to be approximately $146 million. KBRA has also assigned a long-term rating of A- with a Stable Outlook to all outstanding parity NJEFA Higher Education Capital