Summary: Ohio Enterprise Bnd Fd; Utility, State Revolving Funds/Pools Jun 02

Standard & Poors, June 2002

Abstract
The 'A-' rating on Ohio's state economic development revenue bonds, issued for Ohio Enterprise Bond Fund, reflects: 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 is greater than 9% of the total bond fund portfolio; Sound repayment history; Weak credit quality and, in most cases, unrated borrowers in the bond fund; and The ability to waive credit criteria for participants in order to achieve economic development goals. The Ohio Enterprise Bond Fund serves an economic development...

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

Action: New Rating

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.

- Ohio Enterprise Bnd Fd
- Ohio

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