S&P Global Ratings today assigned its 'AA-/A-1+' rating to Iowa Finance Authority's tax-exempt adjustable mode industrial development revenue bonds series 2024 (issued for the Associated Milk Producers Inc. Project) due Dec. 1, 2031. The 'AA-/A-1+' rating on the bonds reflects our ratings on JPMorgan Chase Bank N.A. (AA-/A-1+), the letter of credit (LOC) provider, during the weekly interest rate mode (the rated mode). The long-term component of our rating reflects our long-term issuer credit rating on JPMorgan Chase Bank N.A. and addresses our expectation of full and timely interest and principal payments when the bondholders have not exercised the put option. The short-term component of our rating reflects our short-term issuer credit rating on JPMorgan Chase Bank N.A. and addresses
