PROVIDENCE – Fitch Ratings recently affirmed the highest possible ratings for $152.5 million of bonds from the Rhode Island Infrastructure Bank, according to a Nov. 4 report.
The AAA rating applies to $135. 1 million in senior line safe drinking water revenue bonds and $17.4 million in subordinate line safe drinking water revenue bonds, according to the report. The bank’s safe drinking water revolving fund program offers subsidized financing rates for clean water drinking water infrastructure projects to municipalities and quasi-public agencies.
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Fitch in its report highlighted the above-average credit quality of the borrower pool and the bank’s strong management for underwriting and loan management procedures.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
