Fitch drops N.H. Bond Bank to AA-; outlook now stable

Fitch Ratings said it downgraded to AA- from AAA the underlying ratings on the New Hampshire Municipal Bond Bank's $236 million outstanding 2005 general bond resolution non-guaranteed bonds. The outlook is revised to stable from negative.

The program's rating downgrade reflects further credit quality deterioration of MBIA Insurance Corp., one of the bank's three surety providers. MBIA provides two sureties totaling $8.2 million.

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