Standard&Poor's Rating Services has affirmed its 'AA' issuer credit rating (ICR) on Iowa Finance Authority (IFA). At the same time, Standard&Poor's affirmed its 'AA' long-term rating on the Authority's existing general obligation (GO) debt and its 'AA/A-1+' rating on the variable-rate debt. The outlook is stable. The rating reflects our opinion of the Authority's following strengths: The extremely high quality and very low-risk profile of its asset base; The very strong profitability in the past two years that are in line with 'AA+'- or higher-rated housing finance agencies (HFAs); The minimal GO debt exposure; and The active management team with strong legislative support. Offsetting these strengths is our opinion of the following weakness: The relatively week
