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Summary: New Hampshire Mun Bnd Bank; General Obligation, Moral Obligation; General Obligation, State GO Nov 99 Product Image

Summary: New Hampshire Mun Bnd Bank; General Obligation, Moral Obligation; General Obligation, State GO Nov 99

  • ID: 1924575
  • November 1999
  • Region: New Hampshire
  • Standard & Poors

Abstract
The rating on New Hampshire Municipal Bond Bank's bonds reflects the moral obligation pledge of the state of New Hampshire and the GO pledge of the bank. The bond bank's moral obligation debt is rated a full category below the state's 'AA+' GO bond rating. The bonds are issued according to the 1978 bond bank resolution and are secured by monies in the bank's debt service reserve fund, which is required to be maintained at least equal to maximum debt service on all outstanding bonds. The reserve fund fully provides for payment of debt service in the event that a municipality defaults in its payments to the bank. The bond bank's revenues primarily consist of local government payments on loan...

Companies mentioned in this report are:
- New Hampshire Mun Bnd Bank

Action: New Rating

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