Standard&Poor's Ratings Services has assigned its 'A' long-term rating to the Indianapolis Local Public Improvement Bond Bank, Ind.'s series 2014A and 2014B bond bank bonds. The outlook is stable. The 'A' rating reflects Indianapolis' moral obligation pledge to replenish the debt service reserve (DSR) fund, if needed. As such, the moral obligation rating reflects the city of Indianapolis' credit characteristics ('AA' issuer credit rating [ICR]) and the risk of nonappropriation by the city-county council. At the same time, we affirmed the 'AA' ICR and 'AA' rating on the city's GO and ad-valorem property tax-backed debt, the 'AA-' rating on existing certificates of participation (COPs), and the 'A' rating on existing moral obligation-backed debt. The outlook on all ratings
