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Maine Municipal Bond Bank Series 2008A Transportation Infrastructure Revenue Bonds Rated 'AA' Sep 08
Standard & Poors, Sep 2008
Abstract
NEW YORK (Standard & Poor's) Sept. 18, 2008--Standard & Poor's Ratings Services assigned its 'AA' rating, and stable outlook, to Maine Municipal Bond Bank's $50 million series 2008A transportation infrastructure revenue bonds. In the rating service's opinion, the rating reflects the bond bank's good maximum annual debt service 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 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...
Companies mentioned in this report are: Maine Mun Bnd Bank
Action: New Rating
Action: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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