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

Standard & Poors, February 2012

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

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.

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.

- Ohio Enterprise Bnd Fd
- Ohio

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