Standard & Poor's Ratings Services assigned its 'AAA' rating, and stable outlook, to Maine Municipal Bond Bank's series 2008A and 2008B bonds. At the same time, Standard & Poor's affirmed its 'AAA' standard long-term rating and underlying rating (SPUR), with a stable outlook, on the bank's preexisting debt. The ratings reflect: The loan repayment stream's underlying credit profile and a default tolerance that meets Standard & Poor's 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 a third reserve fund which, when blended with pledged reserves, is estimated to have totaled more than $157 million...
Companies mentioned in this report are:
- Maine Mun Bnd Bank
Action: New Rating
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