CHICAGO (S&P Global Ratings) June 5, 2017--S&P Global Ratings assigned its 'AA+' long-term rating to the Indiana Bond Bank's series 2017A taxable common school fund advancement purchase funding bonds. The outlook is stable. The bonds are secured by loan repayments from up to 70 individual school corporations, each of which have agreed to have state aid (subject to appropriation by the state of Indiana) withheld to repay the loans. "The 'AA+' rating reflects appropriated state aid that is withheld from participating school corporations (Advancement Payments) to pay Advancement Agreements, which are pledged to the bonds," said S&P Global Ratings credit analyst John Sauter, "and very strong coverage of loans by appropriated state aid." Other factors include: The state's long-standing commitment
