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Summary: Maine Mun Bnd Bank; Appropriation, Moral Obligation; Utility, State Revolving Funds/Pools Sep 04 Product Image

Summary: Maine Mun Bnd Bank; Appropriation, Moral Obligation; Utility, State Revolving Funds/Pools Sep 04

  • Published: September 2004
  • Region: Maine
  • Standard & Poors

Abstract
The 'AAA' rating on Maine Municipal Bond Bank's series 2004D and 2004E GO bonds reflects: The underlying credit profile of the loan repayment stream and a default tolerance that meets Standard & Poor's Ratings Services' state revolving fund criteria for 'AAA' rated programs; Very strong structural features, including two pledged reserve funds and, in the event of nonpayment by a borrower, a state aid intercept, as well as access to three blended reserve funds totaling more than $135 million; The substantial number of borrowers and credit quality and diversity of the participants; and The bank's successful 30-year-plus track record of strong oversight and management of the program. The bank will use proceeds of the series 2004D and E to finance...

Companies mentioned in this report are:
- Maine Mun Bnd Bank

Action: Affirmed
Action: New Rating

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- Maine Mun Bnd Bank

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