Maine State Credit/Bonding Capacity
The bond package is financially responsible. Maine has a conservative bonding record, strong credit, and track record of quickly repaying debt.

Opponents say this bond package is mortgaging our children’s future and that we keep piling debt on top of debt. In reality, Maine has a low debt burden and pays its debts quickly:

• According to Standard & Poor’s, Maine has a …“Favorable debt position with a low debt burden and rapid amortization of debt outstanding.”
• The state has a “AA” bond rating from Standard & Poor’s, which is defined as “very strong capacity to meet financial commitments.”
• According to Standard & Poor’s, Maine has the lowest debt levels in all of New England, with 1 percent personal income accounting for our tax supported debt.
• According to Moody’s, Maine ranks 33rd in terms of debt per capita.
• Maine is also 28th among states when you consider debt as a percentage of personal income.
• In this biennium Maine will payoff $168.1M in debt.
• Even considering that $78M in already authorized debt will be issued, this $85M package allows us to retire $5.1M more debt than we issue.
• Under even the most aggressive draw schedule (when we borrow and spend bonds) debt service is less than 5 percent of total General Fund, Highway Fund and Revenue Sharing revenues
• Maine’s total debt for General Obligation Bonds is $507.7M. Debt service for this package is $2.1M