S&P Global Ratings assigned its 'BBB' long-term rating to the Indiana Finance Authority 's series 2025A tax-exempt educational facilities revenue bonds, issued for the University of Indianapolis (UIndy). At the same time, S&P Global Ratings affirmed its 'BBB' long-term rating on the authority's series 2013, 2014, and 2017 revenue and revenue refunding bonds, issued for UIndy. S&P Global Ratings also affirmed its 'BBB' long-term rating on the Arizona Industrial Development Authority 's (AZIDA) series 2019A lease revenue bonds (University of Indianapolis-Health Pavilion project) and taxable series 2019B bonds, issued for MACQ–Indiana I (MACQ-IN). The outlook is stable. UIndy's series 2013, 2014, 2017, and 2025 bonds are unsecured general obligations of the university. The approximate $28.3 million of proceeds from the
