Indianapolis GO Debt Rating Outlook Revised To Stable From Positive On Riskier Debt Profile - S&P Global Ratings’ Credit Research

Indianapolis GO Debt Rating Outlook Revised To Stable From Positive On Riskier Debt Profile

Indianapolis GO Debt Rating Outlook Revised To Stable From Positive On Riskier Debt Profile - S&P Global Ratings’ Credit Research
Indianapolis GO Debt Rating Outlook Revised To Stable From Positive On Riskier Debt Profile
Published Nov 10, 2023
3 pages (1438 words) — Published Nov 10, 2023
Price US$ 150.00  |  Buy this Report Now

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Abstract:

SALT LAKE CITY (S&P Global Ratings) Nov. 10, 2023--S&P Global Ratings revised the outlook on the City of Indianapolis' to stable from positive and affirmed its long-term and underlying (SPUR) ratings on the city's general obligation (GO) debt. S&P Global Ratings also assigned its 'AA+' long-term rating to Indianapolis Local Public Improvement Bond Bank's $155 million series 2023D Convention Center Hotel bonds, secured by special benefits tax (ad valorem property tax), and its 'A+' long-term rating to the bond bank's $200 million series 2023-F-1 Convention Center Hotel subordinate revenue bonds, secured by the city's moral obligation pledge. At the same time, we affirmed our 'AA+' long-term rating on existing debt supported by ad valorem property tax pledge and our 'AA-'

  
Brief Excerpt:

...November 10, 2023 SALT LAKE CITY (S&P Global Ratings) Nov. 10, 2023--S&P Global Ratings revised the outlook on the City of Indianapolis' to stable from positive and affirmed its long-term and underlying (SPUR) ratings on the city's general obligation (GO) debt. S&P Global Ratings also assigned its '##+' long-term rating to Indianapolis Local Public Improvement Bond Bank's $155 million series 2023D Convention Center Hotel bonds, secured by special benefits tax (ad valorem property tax), and its 'A+' long-term rating to the bond bank's $200 million series 2023-F-1 Convention Center Hotel subordinate revenue bonds, secured by the city's moral obligation pledge. At the same time, we affirmed our '##+' long-term rating on existing debt supported by ad valorem property tax pledge and our '##-' rating on all previously rated moral obligation bonds. "The outlook revision reflects a change in a debt profile that in our view will be risker after the hotel bonds are issued," said S&P Global Ratings...

  
Report Type:

Ratings Action

Issuer
Indianapolis
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Indianapolis GO Debt Rating Outlook Revised To Stable From Positive On Riskier Debt Profile" Nov 10, 2023. Alacra Store. May 20, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Indianapolis-GO-Debt-Rating-Outlook-Revised-To-Stable-From-Positive-On-Riskier-Debt-Profile-3087421>
  
APA:
S&P Global Ratings’ Credit Research. (). Indianapolis GO Debt Rating Outlook Revised To Stable From Positive On Riskier Debt Profile Nov 10, 2023. New York, NY: Alacra Store. Retrieved May 20, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Indianapolis-GO-Debt-Rating-Outlook-Revised-To-Stable-From-Positive-On-Riskier-Debt-Profile-3087421>
  
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