CHICAGO (Standard&Poor's) July 20, 2015--Standard&Poor's Ratings Services said that it raised its rating on The Indianapolis Local Public Improvement Bond Bank, Ind.'s existing stormwater system senior-lien revenue bonds to 'AAA' from 'AA+'. At the same time, we assigned our 'AAA' rating to the bond bank's series 2015H refunding bonds. The outlook is stable. "The upgrade is due to additional certainty related to how the city will fund the large $320 million stormwater capital plan," said Standard&Poor's credit analyst Scott Garrigan. Effective July 1, 2015, a new stormwater rate structure was put into place which allows for automatic increases through 2019 and then until 2034 unless modified by council. From now on, the rate will
