Research Update: Indiana Bond Bank Series 2025A-1 Senior Lien Community Funding Resource Program Bonds Rated 'AA+'

S&P Global Ratings assigned its 'AA+' rating to Indiana Bond Bank 's (IBB's) approximately $76.035 million Community Funding Resource Program (CFRP) series 2025A-1 senior lien bonds. The outlook is stable. The bonds are secured by qualified obligation repayments from various local borrowers, as well as cash and securities held in funds and accounts created by the master trust indenture. Proceeds will finance the refunding of various outstanding bonds and fund all or a portion of a debt service reserve. The Indiana Bond Bank?s Community Funding Resource Program facilitates financing for local governmental borrowers, issuing pooled financing bonds that use repayments from the local units? qualified obligations to pay the bond debt service. Our rating on the senior lien bonds reflects

...Program description: The IBB's CFRP finances public projects by purchasing qualified obligations from local governments within Indiana. The IBB administers the CFRP along with six other programs and works closely with the Indiana Finance Authority (the Indiana Finance Authority's director holds one of seven IBB board seats ex-officio). The IBB historically financed the CFRP by selling bonds to the state treasury....

Research Update