...S&P Global Ratings raised its issuer credit rating (ICR) on the Iowa Finance Authority (IFA or the authority) to '##+' from '##'. At the same time, S&P Global Ratings also raised its long-term rating on the authority's Multifamily Housing Bond Resolution debt to '##+' from '##' and its dual rating on the debt to '##+/A-1' from '##/A-1'.The outlook is stable. The rating reflects our opinion of the authority's following strengths: + Total equity over total assets of 36.66%, a seven-percentage-point increase over the past five years, that is well in line with '##+' rated peers and demonstrates increasing solid performance and sufficient financial resources available to support the authority's GO pledge; + High-quality and low-risk asset base consisting primarily of '##+' rated mortgage-backed securities (MBS), coupled with very low whole loan delinquencies; + Efficient operations, as demonstrated by a five-year average return on average assets of 1.04%, indicating the organization's financial...
