Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Oklahoma Water Resources Board's series 2007 state loan program revenue bonds and affirmed its 'AAA' rating, with a stable outlook, on the board's preexisting state loan program revenue bonds. The 'AAA' rating reflects the program's: Substantial program reserves that exceed Standard & Poor's requirements for 'AAA'-rated pools, given the expected default rates; Excellent history of borrower repayment with no loans in default; Strong financial management and program oversight; and Sound underwriting standards and strong loan requirements to local borrowers. Before this issuance, loans were not committed until after bond issuance, making the actual borrowers' overall credit quality uncertain at the time of debt issuance. In response to...
Companies mentioned in this report are:
- Oklahoma Wtr Resources Brd
- Tulsa Metro Util Auth
Action: New Rating
Action: Outlook: Stable
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