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Indianapolis, Ind. Bonds Series 2004B (Nora Commons) Rating Lowered To 'AA-/A-1+'

Published Jul 16, 2014

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Abstract:

NEW YORK (Standard&Poor's) July 16, 2014--Standard&Poor's Ratings Services today lowered its rating to Indianapolis, Ind.'s $0.74 million variable-rate demand limited obligation multifamily housing revenue bonds series 2004B (for the Nora Commons project) to 'AA-/A-1+' from 'AA+/A-1+'. The rating reflects our opinion of the credit and liquidity support that U.S. Bank N.A. ('AA-/A-1+') provides in the form of an irrevocable direct-pay letter of credit (LOC). Under the LOC, U.S. Bank N.A. fully supports all bond payment obligations when the bonds are in the interest rate mode. Therefore, our rating applies only during these rate modes. If the bonds are converted to another rate mode, we will likely withdraw our rating. The 'AA-' long-term component of our rating

Report Type:

Ratings Action

Issuer

Indianapolis

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

HTML

Indianapolis Local Public Improvement Bond Bank, Indiana Indianapolis; Appropriations; General Obligation; General Obligation Equivalent Security; Moral Obligation – 2014/07/29 – US$ 500.00

Summary: Indianapolis Local Public Improvement Bond Bank, Indiana Indianapolis; Appropriations; General Obligation; General Obligation Equivalent Security; Moral Obligation – 2014/07/29 – US$ 225.00

Summary: Indianapolis Local Public Improvement Bond Bank Indianapolis; Gas Tax – 2015/03/06 – US$ 225.00

Indianapolis Local Public Improvement Bond Bank Stormwater System Bond Rating Raised To 'AAA' On Capital Plan Funding – 2015/07/20 – US$ 150.00

Transaction Update: Indianapolis, Ind. (Series 2004B) – 2014/07/16 – US$ 375.00

Transaction Update: Indianapolis, Ind. (Series 2004A) – 2014/07/16 – US$ 375.00

Indianapolis, Ind. Bonds Series 2004A (Nora Commons) Rating Raised To 'AA-/A-1+' – 2014/07/16 – US$ 150.00

Indianapolis, Indiana; Combined Utility – 2014/06/27 – US$ 500.00

Summary: Indianapolis, Indiana; Combined Utility – 2014/06/27 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Indianapolis, Ind. Bonds Series 2004B (Nora Commons) Rating Lowered To 'AA-/A-1+'" Jul 16, 2014. Alacra Store. May 24, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Indianapolis-Ind-Bonds-Series-2004B-Nora-Commons-Rating-Lowered-To-AA-A-1-1347092>

APA:	S&P Global Ratings’ Credit Research. (). Indianapolis, Ind. Bonds Series 2004B (Nora Commons) Rating Lowered To 'AA-/A-1+' Jul 16, 2014. New York, NY: Alacra Store. Retrieved May 24, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Indianapolis-Ind-Bonds-Series-2004B-Nora-Commons-Rating-Lowered-To-AA-A-1-1347092>

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