DALLAS (Standard&Poor's) Nov. 13, 2009--Standard&Poor's Ratings Services assigned its 'AAA' long-term rating, and a stable outlook, to Iowa Finance Authority's series 2009 state-revolving fund (SRF) revenue bonds. At the same time, Standard&Poor's affirmed its 'AAA' rating on the authority's SRF bonds outstanding. The rating reflects what we consider the authority's large and diverse loan portfolio; sufficient reserve levels to meet Standard&Poor's SRF criteria for 'AAA' rated programs that includes cross-collateralization between clean water and drinking water portfolios; and very competent management team with a proven track record of managing the loan portfolio. "The stable outlook reflects our expectation that the diversity of pledged loans will continue, and that the program structure will
