Summary: Indianapolis Local Public Improvement Bond Bank, Indiana Indianapolis; Appropriations; General Obligation; General Obligation Equivalent Security; Moral Obligation

Standard&Poor's Ratings Services has assigned its 'A' long-term rating to the Indianapolis Local Public Improvement Bond Bank, Ind.'s series 2015C and 2015D bonds. The outlook is stable. The 'A' rating reflects Indianapolis' moral obligation pledge to replenish the debt service reserve (DSR) funds, if needed, associated with the two bond series. The moral obligation rating reflects the city of Indianapolis' credit characteristics ('AA' issuer credit rating, or ICR) and the risk of nonappropriation by the city-county council. At the same time, we affirmed the 'AA' ICR and 'AA' rating on the city's GO and ad valorem property tax-backed debt, the 'AA-' rating on existing certificates of participation (COPs), and the 'A' rating on existing moral obligation-backed debt. The

...Standard & Poor's Ratings Services has assigned its 'A' long-term rating to the Indianapolis Local Public Improvement Bond Bank, Ind.'s series 2015C and 2015D bonds. The outlook is stable. The 'A' rating reflects Indianapolis' moral obligation pledge to replenish the debt service reserve (DSR) funds, if needed, associated with the two bond series. The moral obligation rating reflects the city of Indianapolis' credit characteristics ('##' issuer credit rating, or ICR) and the risk of nonappropriation by the city-county council. At the same time, we affirmed the '##' ICR and '##' rating on the city's GO and ad valorem property tax-backed debt, the '##-' rating on existing certificates of participation (COPs), and the 'A' rating on existing moral obligation-backed debt. The outlook on all ratings is stable. The '##' ratings are based on ad valorem property tax pledges, subject to state circuit-breaker legislation. The '##-' rating on the COPs reflects annual appropriation risk, and the 'A'...

Summary