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Summary: Alaska Mun Bnd Bank; Appropriation, Moral Obligation Dec 02 Product Image

Summary: Alaska Mun Bnd Bank; Appropriation, Moral Obligation Dec 02

  • Published: December 2002
  • Standard & Poors

Abstract
Alaska Municipal Bond Bank's revenue bonds, issued for Ketchikan Utility System, are secured by the moral obligation pledge of the state to maintain a debt service reserve for the bank's bonds and state aid withholding provisions, which, since June 1988, apply to both GO and revenue bonds issued by the bank. The state aid withholding provisions under the bond bank statute says that state aid to municipalities will be withheld and paid directly to the bank should the participating unit default in the payment of principal or interest on its bonds held by the bank. The 'A' rating reflects Alaska's very strong general credit characteristics, which include: Strong financial management with prudent reserve policies in place to maintain and enhance...

Companies mentioned in this report are: Alaska Mun Bnd Bank,Alaska
Action: New Rating

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Alaska Mun Bnd Bank,Alaska

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