Summary: New Mexico Finance Authority; State Revolving Funds/Pools Sep 09
- ID: 1721355
- September 2009
- Region: Mexico, New Mexico
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating, and stable outlook, to New Mexico Finance Authority's (the authority) series 2009D-1 tax-exempt and D-2 taxable senior-lien public project revolving fund (PPRF) revenue bonds. In addition, Standard & Poor's affirmed its 'AA+' long-term rating and underlying rating on the authority's bonds outstanding. Program features include what we view as: A large borrower pool of governmental entities; The program's currently good (1.29x) maximum annual debt service coverage (DSC) by cash flow streams that can withstand our default tolerance tests relative to the program's diversity at the 'AA' rating category; The formalized policies that define the program's loan management and debt management practices, including enhanced systems and portfolio control in the past...
Companies mentioned in this report are:
- New Mexico Fin Auth
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >