...May 10, 2024 ENGLEWOOD (S&P Global Ratings) May 10, 2024--S&P Global Ratings assigned its '###' long-term rating to the Iowa Finance Authority's (IFA) anticipated $202.95 million series 2024A state revolving fund (SRF) revenue (green) bonds. At the same time, we affirmed our '###' long-term rating on IFA's outstanding revolving fund bonds for both its drinking and clean water programs. The outlook is stable. "The rating reflects our view of IFA's extremely strong enterprise and financial risk profiles, due to its ongoing governmental support," said S&P Global Ratings credit analyst John Schulz. The series 2024A bonds will reimburse the authority's equity fund for SRF loans previously disbursed, meet the program's state match requirement for 2024 federal capitalization grants, refund a portion of the authority's SRF revenue bonds outstanding, and pay the costs of issuance. The combined drinking- and clean-water loan portfolio serves more than 770 borrowers and more than 1,200 loans....
