Summary: Indiana Bond Bank; Note

Standard&Poor's Ratings Services has assigned its 'SP-1' short-term rating to Indiana Bond Bank's series 2016A advance funding program notes, reflecting our view of the rating overcollateralization of the notes' par amount by a standby credit facility issued by the JPMorgan Chase Bank N.A. (A+/Stable/A-1). Standard&Poor's has determined that the total overcollateralization of the par amount of the series 2016A notes, at a level of 9%, is sufficient to address the possibility of debt service deficiencies in the participants' individual warrant repayment accounts. In determining the required overcollateralization level, we evaluated historical and projected financial and liquidity information provided by each participant. The participants are required to make sufficient funds available to the trustee to pay their

...Standard & Poor's Ratings Services has assigned its 'SP-1' short-term rating to Indiana Bond Bank's series 2016A advance funding program notes, reflecting our view of the rating overcollateralization of the notes' par amount by a standby credit facility issued by the JPMorgan Chase Bank N.A. (A+/Stable/A-1). Standard & Poor's has determined that the total overcollateralization of the par amount of the series 2016A notes, at a level of 9%, is sufficient to address the possibility of debt service deficiencies in the participants' individual warrant repayment accounts. In determining the required overcollateralization level, we evaluated historical and projected financial and liquidity information provided by each participant. The participants are required to make sufficient funds available to the trustee to pay their warrants by maturity. If they do not, a maximum deficiency of the lesser of 9% of the par amount of the notes and $8 million would be funded by the credit facility. Pursuant...

Summary