TEXT-Fitch affirms Maine Health & Higher Ed Facilities revs at 'AA'
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
- Israel rejects ceasefire plan, source says as death toll nears 850 |
- First Ebola victim in Sierra Leone capital on the run
- Bad weather seen as probable cause of Air Algerie crash
- White House aide says Republicans might try for Obama impeachment
- EU edges to economic sanctions on Russia but narrows scope |