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Summary: Maine Mun Bnd Bank; Appropriation, Moral Obligation Jul 02

  • ID: 1930241
  • July 2002
  • Region: Maine
  • Standard & Poors


  • Maine
  • Maine Mun Bnd Bank
  • MORE

The 'AAA' rating on Maine Municipal Bond Bank's bonds is based on the following factors: 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 and access to three blended reserve funds totaling nearly $150 million; The substantial number of borrowers and the credit quality and diversity of the participants; A successful 29-year track record of strong oversight and management of the program; and A moral obligation pledge of the state (rated 'AA+') to replenish any draws in the debt service reserve....

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

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying READ MORE >

Note: Product cover images may vary from those shown

- Maine Mun Bnd Bank
- Maine

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown


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