Indiana Bond Bank Series 2009 Bond Rating Revised To 'AA+'; Outlook Stable

CHICAGO (S&P Global Ratings) Jan. 18, 2017--S&P Global Ratings has corrected by raising its rating on the Indiana Bond Bank's series 2009 qualified school construction bonds to 'AA+' from 'A+'. The outlook is stable. S&P Global Ratings also discontinued its rating on the Indiana Bond Bank's series 2015E taxable school severance refunding bonds, which have been fully defeased. The rating should have been raised on the series 2009 qualified school construction bonds to 'AA+' from 'A+' on March 25, 2015, when S&P Global Ratings raised the program rating for Danville Community School Corp. to 'AA+', after state aid increased to a level providing 2x maximum annual debt service coverage. The series 2009 qualified school construction bonds are supported by a

...CHICAGO (S&P Global Ratings) Jan. 18, 2017--S&P Global Ratings has corrected by raising its rating on the Indiana Bond Bank's series 2009 qualified school construction bonds to '##+' from 'A+'. The outlook is stable. S&P Global Ratings also discontinued its rating on the Indiana Bond Bank's series 2015E taxable school severance refunding bonds, which have been fully defeased. The rating should have been raised on the series 2009 qualified school construction bonds to '##+' from 'A+' on March 25, 2015, when S&P Global Ratings raised the program rating for Danville Community School Corp. to '##+', after state aid increased to a level providing 2x maximum annual debt service coverage. The series 2009 qualified school construction bonds are supported by a pool of participating school corporations, and the rating reflects each school corporation meeting our Indiana State Aid Intercept Program rating criteria." Prior to March 25, 2015, the rating on the 2009 qualified school construction bonds...

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