Iowa Finance Authority Series 2022A&B State Revolving Fund Revenue Bonds Assigned 'AAA' Rating

NEW YORK (S&P Global Ratings) April 7, 2022--S&P Global Ratings assigned its 'AAA' long-term rating to the Iowa Finance Authority's (IFA) state revolving fund (SRF) revenue bonds, $198.025 million series 2022A and taxable $8.155 million series 2022B, both issued as green bonds. At the same time, S&P Global Ratings affirmed its 'AAA' long-term rating on IFA's revolving fund bonds outstanding for both its drinking- and clean-water programs. The outlook is stable. The long-term rating reflects our view of IFA's: Extremely strong enterprise risk profile, given that the program has ongoing support from multiple levels of government and a governmental entity manages it; and Extremely strong financial risk profile, with loss coverage score, operating performance, and financial policies consistent with this

...April 7, 2022 NEW YORK (S&P Global Ratings) April 7, 2022--S&P Global Ratings assigned its '###' long-term rating to the Iowa Finance Authority's (IFA) state revolving fund (SRF) revenue bonds, $198.025 million series 2022A and taxable $8.155 million series 2022B, both issued as green bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on IFA's revolving fund bonds outstanding for both its drinking- and clean-water programs. The outlook is stable. The long-term rating reflects our view of IFA's: - Extremely strong enterprise risk profile, given that the program has ongoing support from multiple levels of government and a governmental entity manages it; and - Extremely strong financial risk profile, with loss coverage score, operating performance, and financial policies consistent with this profile, which also includes cross-collateralization between clean-water and drinking-water portfolios. "The stable outlook reflects S&P Global Ratings' expectation that the...

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