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Summary: Ohio Ohio Enterprise Bond Fund; State Revolving Funds/Pools Feb 12 Product Image

Summary: Ohio Ohio Enterprise Bond Fund; State Revolving Funds/Pools Feb 12

  • Published: February 2012
  • Region: Ohio
  • Standard & Poors

FEATURED COMPANIES

  • Ohio
  • Ohio Enterprise Bnd Fd
  • MORE

Abstract
Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to Ohio's series 2012-1 state economic development revenue bonds, issued for the Ohio Enterprise Bond Fund (OEBF), and affirmed its 'AA-' long-term rating on Ohio's parity debt, also issued for the OEBF, reflecting our view of the following strengths: The sufficiency of the underlying loan repayment stream and additional pledged reserves to meet Standard & Poor's default tolerance analysis consistent with 'AA' rating category pools; Overcollateralization from annual cash flows from revenues generated under the Chapter 166 loan program; Deposits to the primary reserve for each new OEBF bond issue that are typically 10% of par; Healthy diversification of loans at the company level, as no single loan currently...

Companies mentioned in this report are:
- Ohio Enterprise Bnd Fd
- Ohio

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

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- Ohio Enterprise Bnd Fd
- Ohio

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