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Summary: Oklahoma Water Resources Board; State Revolving Funds/Pools Jan 08 Product Image

Summary: Oklahoma Water Resources Board; State Revolving Funds/Pools Jan 08

  • ID: 1771291
  • January 2008
  • Region: Oklahoma
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Oklahoma Water Resources Board's series 2001 state loan program revenue bonds (converted series 2002A) and affirmed its 'AAA' rating, with a stable outlook, on the board's parity debt. The 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 the recent series 2007 issuance, loans were not committed until after bond issuance, making the actual borrowers' overall credit quality uncertain at the time of debt issuance. In...

Companies mentioned in this report are:
- Oklahoma Wtr Resources Brd

Action: Affirmed
Action: Outlook: Stable

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