S&P Global Ratings assigned its 'AAA' long-term rating to the Iowa Finance Authority's (IFA) $83.2 million 2023 series A (social bonds) and series B single-family mortgage bonds (mortgage-backed securities, or MBS, program). At the same time, we affirmed our 'AAA' long-term and 'AAA/A-1+' ratings on debt outstanding under the authority's 1991 single family mortgage bond resolution (SFMBR). The outlook is stable. Bonds issued within the 1991 resolution are general obligations of IFA, payable from the revenues, assets, and money pledged under the master indenture on a parity basis with all other obligations outstanding under the master indenture. The bonds are also supported by IFA's general obligation pledge. According to preliminary transaction documents, the authority will use the 2023 series A
