...S&P Global Ratings has assigned its '###' long-term rating to the Indiana Finance Authority's (IFA) series 2021A state revolving fund (SRF) program bonds, which have been designated by IFA as green bonds. At the same time, S&P Global Ratings affirmed its '###' long-term rating on IFA's previously issued debt under its wastewater and drinking water bond indentures. In addition, S&P Global Ratings affirmed its '###' rating on the IFA's series 2019 Water Infrastructure Finance and Innovation Act (WIFIA) loan agreement. The outlook is stable. The authority will use the series 2021A bond proceeds ($78 million par) to reimburse loans made in both its drinking water and wastewater programs. 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. We do not believe that the existence of the alternative WIFIA indenture introduces any additional credit...
