Moody’s Ba2 rating reported for $100M New Hampshire bitcoin-backed bond, but direct confirmation remains limited

Multiple outlets reported that Moody’s Investors Service assigned a Ba2 rating to a $100 million bitcoin-backed revenue bond tied to the New Hampshire Business Finance Authority, describing the transaction as a first-of-its-kind municipal bond backed by crypto collateral ^{[1] [2] [3] [4]}.

At least one secondary report cautioned that directly readable public records are limited: New Hampshire approved the financing before the reported rating action, and available evidence points to a provisional or later Moody’s step rather than a fully viewable rating sheet, leaving the exact status of the rating unclear ^{[5] [3] [1]}.

News coverage presents the deal as rated Ba2 by Moody’s, but primary confirmation from Moody’s or accessible official rating documentation was not clearly established in the available records at the time of reporting, so further direct confirmation is needed ^{[1] [5] [3]}.