...S&P Global Ratings assigned its '###' long-term rating to the Indiana Finance Authority's (IFA) $215 million series 2021B state revolving fund (SRF) program bonds, which have been designated by IFA as green bonds. The outlook is stable. The authority will use the series 2021B bond proceeds 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 Water Infrastructure Finance and Innovation Act (WIFIA) indenture introduces any additional credit risks to other bonds issued under IFA's wastewater and drinking water bond indentures. Supporting our rating on the WIFIA loan is access to the larger SRF program's equity fund that we believe the alternative WIFIA indenture gives access to if needed. Effectively, we have...
