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Summary: Ohio Enterprise Bnd Fd; Utility, State Revolving Funds/Pools Jan 06

  • ID: 1885188
  • January 2006
  • Region: Ohio
  • Standard & Poors
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FEATURED COMPANIES

  • Ohio
  • Ohio Enterprise Bnd Fd
  • MORE

Abstract
The 'AA-' rating on Ohio's series 2006-2 taxable state economic development revenue bonds, issued for the Ohio Enterprise Bond Fund (OEBF), is based on the underlying credit profile of the loan repayment stream and a default tolerance that meets Standard & Poor's Ratings Services' pooled fund criteria for 'AA-' rated programs. Additional credit characteristics that support the rating include: Good coverage levels on the front-loaded debt service provided by the combined repayment streams of bond loans and the Chapter 166 loan program; Strong fund balances to protect against delinquent or defaulting loans, including a minimum 15% program reserve requirement; Healthy diversification of loans at the company level, as no single loan accounts for more than 5.5% of the total bond...

Companies mentioned in this report are:
- Ohio Enterprise Bnd Fd
- Ohio

Action: Affirmed
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 READ MORE >

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- Ohio Enterprise Bnd Fd
- Ohio

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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