Summary: Iowa Finance Authority; Single Family Multiple MBS

S&P Global Ratings assigned its 'AAA' long-term rating to the Iowa Finance Authority's (IFA) $130.8 million 2023 series C (non-AMT; social bonds) and series D taxable single-family mortgage bonds (mortgage-backed securities, or MBS, program). At the same time, we lowered the short-term component of the rating on IFA's series 2019B and 2022H issues, supported by US Bank N.A. to 'A-1' from 'A-1+'. The downgrade follows S&P Global Ratings recently lowering its ratings on US Bank N.A. (See "U.S. Bancorp Downgraded To 'A' From 'A+' On Narrower Outperformance Versus Peers; Outlook Stable," published May 11, 2023, on RatingsDirect.) The long-term rating on the series 2019B and 2022H issues is 'AAA' and reflects the long-term rating on IFA's 1991 single-family mortgage bond

...+ S&P Global Ratings assigned its '###' long-term rating to the Iowa Finance Authority's (IFA) $130.8 million 2023 series C (non-AMT; social bonds) and series D taxable single-family mortgage bonds (mortgage-backed securities, or MBS, program). + At the same time, we lowered the short-term component of the rating on IFA's series 2019B and 2022H issues, supported by US Bank N.A. to 'A-1' from 'A-1+'. The downgrade follows S&P Global Ratings recently lowering its ratings on US Bank N.A. (See "U.S. Bancorp Downgraded To 'A' From 'A+' On Narrower Outperformance Versus Peers; Outlook Stable," published May 11, 2023, on RatingsDirect.) + The long-term rating on the series 2019B and 2022H issues is '###' and reflects the long-term rating on IFA's 1991 single-family mortgage bond resolution (SFMBR). The short-term component of the rating reflects the rating on liquidity facility in the form of a standby bond purchase agreement provided by US Bank N.A. + In addition, we affirmed our '###' long-term...

Summary