Summary: Maine Municipal Bond Bank; State Revolving Funds/Pools Feb 12

Standard & Poors, February 2012

Abstract
Standard & Poor's Ratings Services has assigned its 'AAA' long-term rating to Maine Municipal Bond Bank 's sewer and water revenue bonds (wastewater state revolving fund (SRF) program) and affirmed its 'AAA' long-term rating on the bond bank's previously issued bonds. The outlook is stable. The ratings are based on the following characteristics: Overcollateralization and pledged reserves sufficient to meet our default tolerance for 'AAA' rated municipal pool programs; Structural features we view as strong, including a cross-collateralization mechanism linking the clean water and drinking water portfolios, and a state moral obligation pledge to maintain the debt service reserve at maximum annual debt service (MADS); The diversity of the SRF program participants; and A very competent management team with a...

Companies mentioned in this report are: Maine 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.

Maine Mun Bnd Bank

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