Summary: New Hampshire Municipal Bond Bank; State Revolving Funds/Pools Nov 11

Standard & Poors, November 2011

Abstract
Standard & Poor's Ratings Services has assigned its 'AA' long-term rating to New Hampshire Municipal Bond Bank's series 2011E and 2011F general obligation (GO) bonds and affirmed its 'AA' long-term rating and underlying rating (SPUR on the bank's existing debt issued under the bond bank's 1978 resolution. The outlook is stable. In our opinion, the ratings reflect: The program's strong structural features, including a pledged reserve fund that is adequate to support defaults that meet our criteria for a 'AA' rated pool; A state aid intercept; The large number and diversity of borrowers; and A successful long-term record of no defaults and strong oversight and program management. Bond bank management will use proceeds to make loans to multiple borrowers. The...

Companies mentioned in this report are:
- New Hampshire Mun Bnd Bank

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

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- New Hampshire Mun Bnd Bank

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