Iowa Finance Authority; Single Family Multiple MBS; Single Family Whole Loan

S&P Global Ratings assigned its 'AAA' rating and stable outlook to Iowa Finance Authority's (IFA) series 2016D single-family mortgage revenue bonds. At the same time, S&P Global Ratings assigned its 'AAA/A-1+' rating and stable outlook to the authority's series 2016E single-family mortgage revenue bonds. The 'AAA' long-term component of the rating on the 2016E bonds is based on the long-term rating on the bond indenture. The 'A-1+' short-term component of the rating on the 2016E bonds reflects an enhancement in the form of a standby-bond purchase agreement (SBPA) from Federal Home Loan Bank of Des Moines, and our opinion of the likelihood that bondholders will receive interest and principal payments when due if they exercise their put (or tender) option.

...S&P Global Ratings assigned its '###' rating and stable outlook to Iowa Finance Authority's (IFA) series 2016D single-family mortgage revenue bonds. At the same time, S&P Global Ratings assigned its '###/A-1+' rating and stable outlook to the authority's series 2016E single-family mortgage revenue bonds. The '###' long-term component of the rating on the 2016E bonds is based on the long-term rating on the bond indenture. The 'A-1+' short-term component of the rating on the 2016E bonds reflects an enhancement in the form of a standby-bond purchase agreement (SBPA) from Federal Home Loan Bank of Des Moines, and our opinion of the likelihood that bondholders will receive interest and principal payments when due if they exercise their put (or tender) option. The '###' rating reflects our view of the very strong credit quality of the single-family mortgage collateral, as well as its:...

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