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Summary: Ohio Enterprise Bond Fund Ohio; State Revolving Funds/Pools Aug 09

  • ID: 1885864
  • August 2009
  • Region: Ohio
  • Standard & Poors
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FEATURED COMPANIES

  • Ohio Enterprise Bnd Fd
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Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating and stable outlook to 2009-4 state economic development revenue bonds (Eaton Corp.) issued for the Ohio Enterprise Bond Fund (OEBF). At the same time, we affirmed the 'AA-' long-term rating, and stable outlook, on the OEBF's parity debt outstanding. The 'AA-' rating reflects the underlying credit profile of the loan repayment stream and a default tolerance that meets Standard & Poor's pooled fund criteria for 'AA-' rated programs. The rating also reflects: What we view as good coverage levels on the front-loaded debt service provided by the combined repayment streams of bond fund loans and the Chapter 166 loan program; Strong reserves, in our opinion, to protect against delinquent or...

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

Action: Affirmed
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 READ MORE >

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- Ohio Enterprise Bnd Fd

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