Summary: Arkansas Development Finance Authority; State Revolving Funds/Pools Apr 11

Standard & Poors, April 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'AAA' rating, and stable outlook, to Arkansas Development Finance Authority's (ADFA) series 2011A and 2011B revolving loan fund revenue bonds. The bonds are issued by the ADFA, while the program is managed by the Arkansas Natural Resources Commission. The bonds will used to refund the remaining bonds outstanding that were issued under the authority's prior resolution. The series 2011 bonds are being issued under the same indenture and the series 2009 bonds. With this refunding, no bonds will remain outstanding under the series 1999 bond program. All loan payments will now flow directly to the indenture for these bonds. Credit strengths related to these bonds include the pledge of loan repayments from...

Companies mentioned in this report are:
- Arkansas Dev Fin Auth

Action: Affirmed
Action: New Rating

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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.

- Arkansas Dev Fin Auth

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