S&P Global Ratings has assigned its 'AAA' long-term rating to the Indiana Finance Authority's (IFA) series 2019F state revolving fund (SRF) program bonds, which have been designated by IFA as green bonds. The outlook is stable. The authority will use the 2019F bond proceeds to currently refund IFA's outstanding 2010A and 2010C SRF program bonds. Payment of debt service is secured through the trust estate, which primarily consists of loan principal and interest payments, as well as interest earnings and balances on various pledged reserve accounts. For more information on our rating analysis, please see the summary analysis on IFA, published Sept. 4, 2019, on RatingsDirect. The stable outlook reflects our expectation that, as additional bonds are issued, management will
