Summary: Ohio Enterprise Bond Fund Ohio; State Revolving Funds/Pools Jun 08
- ID: 1886068
- June 2008
- Region: Ohio
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA-' rating, and stable outlook, to Ohio's series 2008-2 state economic development revenue bonds, issued for the Ohio Enterprise Bond Fund (OEBF). 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: 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 reserves to protect against delinquent or defaulting loans, including a primary reserve of 10% for each loan and a program reserve of $10 million funded by the Ohio Department of Development; Healthy diversification of...
Companies mentioned in this report are:
- Ohio Enterprise Bnd Fd
Action: New Rating
Action: Outlook: Stable
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