S&P Global Ratings assigned its 'A-1+' short-term rating to Iowa Finance Authority's (IFA) series 2017E-1 and 2017E-2 single-family mortgage revenue bonds (nonalternative-minimum tax). At the same time, S&P Global Ratings assigned its 'AAA' long-term rating and stable outlook to the authority's series 2017E-3 single-family mortgage revenue bonds (nonalternative-minimum tax) and affirmed its 'AAA' long-term rating and 'AAA/A-1+' rating, with a stable outlook, on the authority's existing single-family mortgage revenue debt. The long-term rating reflects our opinion of the very strong credit quality of the single-family mortgage collateral. The rating also reflects our opinion of: The mortgage loan collateral's extremely strong financial performance and very strong credit quality; The extremely strong equity, sized in accordance with the 'AAA' rating, to guard
