Summary: Indianapolis Local Public Improvement Bond Bank Indianapolis; Gas Tax

Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating to the Indianapolis Local Public Improvement Bond Bank, Ind.'s series 2015E revenues bonds (IndyRoads), issued for Indianapolis. At the same time, we affirmed our 'AAA' rating on the bond bank's existing series 2013H and 2015A bonds, also issued for the city. The outlook is stable. The 'AAA' rating reflects our view of: A deep, stable revenue source from numerous fees and taxes collected both locally and across the state; Very strong coverage from total pledged revenues; and A strong historical additional bonds test (ABT) of 3x maximum annual debt service (MADS). The bond bank intends to use bond proceeds to purchase Indianapolis' series 2015B IndyRoads revenue bonds. The city

...Standard & Poor's Ratings Services has assigned its '###' long-term rating to the Indianapolis Local Public Improvement Bond Bank, Ind.'s series 2015E revenues bonds (IndyRoads), issued for Indianapolis. At the same time, we affirmed our '###' rating on the bond bank's existing series 2013H and 2015A bonds, also issued for the city. The outlook is stable. The '###' rating reflects our view of: + A deep, stable revenue source from numerous fees and taxes collected both locally and across the state; + Very strong coverage from total pledged revenues; and + A strong historical additional bonds test (ABT) of 3x maximum annual debt service (MADS). The bond bank intends to use bond proceeds to purchase Indianapolis' series 2015B IndyRoads revenue bonds. The city will uses its bond proceeds to finance street and infrastructure improvements. The bonds are eligible to be rated above the sovereign because we believe the city can maintain better credit characteristics than the U.S. in a stress scenario....

Summary