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Summary: Maine Mun Bnd Bank; Appropriation, Moral Obligation; Utility, State Revolving Funds/Pools Feb 05

  • ID: 1930222
  • February 2005
  • Region: Maine
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'AAA' rating to Maine Municipal Bond Bank's refunding bonds, series 2005A, and affirmed its 'AAA' rating and 'AAA' underlying rating on the bank's outstanding debt. The 'AAA' rating reflects: The underlying credit profile of the loan repayment stream 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 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...

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

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Maine Mun Bnd Bank

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