Summary: Indiana Finance Authority Community Foundation of Northwest Indiana; System

S&P Global Ratings assigned its 'AA-' long-term rating to the Indiana Finance Authority's $144.89 million series 2022 taxable revenue bonds issued for the Community Foundation of Northwest Indiana (CFNI). S&P Global Ratings also affirmed its 'AA-' long-term rating on the authority's revenue bonds issued for CFNI. The outlook is stable. The proceeds of the debt issuance will be used to advance refund all of the series 2015 bonds outstanding; finance, reimburse, or refinance various capital expenditure projects, including the medical office development in Valparaiso, the construction of the fifth and sixth floors of Community Hospital's medical office building, the remodeling of Community Hospital's surgery department, the development of an immediate care and physician office building in Munster, and the replacement

...S&P Global Ratings assigned its '##-' long-term rating to the Indiana Finance Authority's $144.89 million series 2022 taxable revenue bonds issued for the Community Foundation of Northwest Indiana (CFNI). S&P Global Ratings also affirmed its '##-' long-term rating on the authority's revenue bonds issued for CFNI. The outlook is stable. The proceeds of the debt issuance will be used to advance refund all of the series 2015 bonds outstanding; finance, reimburse, or refinance various capital expenditure projects, including the medical office development in Valparaiso, the construction of the fifth and sixth floors of Community Hospital's medical office building, the remodeling of Community Hospital's surgery department, the development of an immediate care and physician office building in Munster, and the replacement of MRI equipment at St. Catherine Hospital; and pay debt issuance costs. The series 2022 will be secured by an unrestricted accounts receivable pledge secured under CFNI's new...

Summary