Summary: Maine Municipal Bond Bank; State Revolving Funds/Pools Apr 09
- ID: 1930624
- April 2009
- Region: Maine
- Standard & Poors
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to Maine Municipal Bond Bank, Maine's series 2009B bonds and affirmed its 'AAA' long-term rating and Standard & Poor's underlying rating (SPUR) on the bond bank's preexisting debt. The outlook on the ratings is stable. In our view, 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 a third fund that total more than $155 million, along with a state aid intercept in the event of nonpayment by a borrower; The substantial number of borrowers, and their credit quality and diversity;...
Companies mentioned in this report are:
- Maine Mun Bnd Bank
Action: New Rating
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