Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating to Indianapolis Local Public Improvement Bond Bank, Ind.'s series 2013H refunding bonds (IndyRoads). At the same time, we affirmed our 'AAA' long-term rating and underlying rating (SPUR) on the bond bank's series 2003E bonds. The outlook on the ratings is stable. The 'AAA' ratings are supported by: Very strong coverage from pledged state-distributed revenues of over 14x; A strong historical additional bonds test (ABT) of 3x maximum annual debt service (MADS); and Rapid amortization of the bonds. The bond bank intends to use bond proceeds to purchase the city of Indianapolis' series 2013A IndyRoads revenue refunding bonds. The purpose of the issuance is to refund the bond bank's series
