TEXT-Fitch affirms Maine Health & Higher Ed Facilities revs at 'AA'

Tue Oct 2, 2012 12:12pm EDT

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Oct 2 - Fitch Ratings has affirmed its 'AA' rating on Maine Health and
Higher Educational Facilities Authority's $1.3 billion in outstanding revenue
bonds.

The Rating Outlook is Stable.

Fitch's cash flow modeling demonstrates that the program can continue to pay
bond debt service even with loan defaults in excess of Fitch's 'AAA' liability
default hurdle, as per its newly released 'State Revolving Fund and Leveraged
Municipal Loan Pool Criteria' and Portfolio Stress Calculator (PSC). Liability
default hurdles derived by the PSC are calculated based on overall pool credit
quality as measured by the rating of underlying borrowers, size, loan term, and
concentration.

Additional information is available in the June 7 press release, "Fitch Rates
Maine Health & Higher Educational Facilities Authority's $40.5MM Revs 'AA',
available at 'www.fitchratings.com'. .

Additional information is available at 'www.fitchratings.com'. The ratings above
were solicited by, or on behalf of, the issuer, and therefore, Fitch has been
compensated for the provision of the ratings.

Applicable Criteria and Related Research:
--'Revenue-Supported Rating Criteria' (June 12, 2012);
--'State Revolving Fund and Leveraged Municipal Loan Pool Criteria' (May 21,
2012);
--'Rating Guidelines for State Credit Enhancement Programs' (June 19, 2012);
--'Counterparty Criteria for Structured Finance Transactions' (May 30, 2012).

Applicable Criteria and Related Research:
Revenue-Supported Rating Criteria
State Revolving Fund and Leveraged Municipal Loan Pool Criteria
Rating Guidelines for State Credit Enhancement Programs
Counterparty Criteria for Structured Finance Transactions
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