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The Bond Buyer

Politically driven cancellation of Maine deal may cost the state next time

Municipal Market Analytics partner Matt Fabian said a governor not allowing a previously priced bond transaction to proceed just for closing is “not typical” and that the circumstances behind the cancellation may impact Maine’s future borrowing capabilities.

“If it’s just a mistake, then mistakes happen and there wouldn’t likely be any credit harm,” said Fabian. “But if it’s concerted effort to hurt the deal then bonds will have to come cheaper to make it up to investors.”

Tim Holler