...NEW YORK (Standard & Poor's) Nov. 12, 2014--Standard & Poor's Ratings Services today affirmed its 'A+/A-1' rating on Iowa Finance Authority's U.S. $220 million midwestern disaster area economic development revenue bonds series 2012 (for CJ Bio America Inc.) due April 1, 2022. The long- and short-term components of our rating on the bonds are based on the long- and short-term issuer credit ratings on the letter of credit (LOC) provider, Korea Development Bank (A+/A-1). The long-term component of our rating on the bonds addresses full and timely interest and principal payments when the bondholders have not exercised the put option. The short-term component of our rating addresses full and timely interest and principal payments when the bondholders have exercised the put option. Today's rating action reflect our Aug. 25, 2014, affirmation of the long- and short-term issuer credit ratings on Korea Development Bank. Changes to our rating on the bonds can result from, among other things, changes...
