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Maine Municipal Bond Bank; Gas Tax Sep 08
Standard & Poors, September 2008
Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Maine Municipal Bond Bank's series 2008A transportation infrastructure revenue bonds, issued for the TransCap Trust Fund. In Standard & Poor's opinion, the rating reflects: The bond bank's good maximum annual debt service (MADS)coverage ratios by fiscal 2008 pledged revenues of 7.94x; A solid and diverse revenue stream with pledged revenues coming in from five different sources; The evidence of strong support by Maine, as well as public support for Maine Department of Transportation (MaineDOT) programs through the authorization of the TransCap program; a diverse economy with a population of 1.3 million; and The solid legal provisions with a conservative 2.00x additional bonds test, a 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 an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Maine Mun Bnd Bank,Maine