The ratings distribution is generally characterized by a steady market position bolstered by healthy demand, superior academic performance compared with local school district peers, and favorable finances, offset by a weak statutory framework with somewhat variable per-pupil funding based on the local tax base, underfunded pension programs compared with other states, and political pressures evidenced by recent litigation challenging the renewal of certain charter school networks. S&P Global Ratings does not rate any New Jersey renaissance schools.Īpproximately 43% of our New Jersey charter schools are investment grade, in line with 42% of the entire rated sector based on our latest available, fiscal 2020 medians (see chart 1). Since the first charter schools opened their doors more than 20 years ago, charter and renaissance schools (a hybrid of public and charter schools that were signed into law under the Urban Hope Act in 2021) have grown to serve nearly one in six students in New Jersey's most impoverished communities.
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