...NEW YORK (Standard & Poor's) Oct. 23, 2015--Standard & Poor's Ratings Services today raised its rating to '##-/A-1+' from 'A+/A-1' on Iowa Finance Authority's US$220 million Midwestern disaster area economic development revenue bonds series 2012 (for CJ Bio America Inc.) due April 1, 2022. Today's rating action reflects the Sept. 16, 2015, raising of our long- and short-term foreign currency ratings on the parent bank of the letter of credit (LOC) provider, Korea Development Bank (New York Branch), to '##-/A-1+' from 'A+/A-1'. The '##-' long-term component of our rating addresses full and timely payments of interest and principal when the bondholders have not exercised the put option. The 'A-1+' short-term component of our rating addresses full and timely payments of interest and principal when the bondholders have exercised the put option. These components are based on the lower of the long- and short-term foreign-currency ratings on Korea Development Bank ('##-/A-1+'), the parent of the...
