Summary: The Indianapolis Local Public Improvement Bond Bank, Indiana; Gas Tax

S&P Global Ratings assigned its 'AAA' long-term rating to The Indianapolis Local Public Improvement Bond Bank, Ind.'s $40 million series 2019E revenue bonds. The bonds are being issued to purchase the city of Indianapolis' series 2019A IndyRoads revenue bonds, which will be secured by a pledge of gas taxes as well as county motor vehicle excise surtax and wheel tax. At the same time, we affirmed our 'AAA' rating on the bond bank's existing debt that is payable from these sources. The outlook on all rating is stable. The 'AAA' ratings reflect application of our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018), which factors in both the strength and stability of the pledged revenues, as well as the

...S&P Global Ratings assigned its '###' long-term rating to The Indianapolis Local Public Improvement Bond Bank, Ind.'s $40 million series 2019E revenue bonds. The bonds are being issued to purchase the city of Indianapolis' series 2019A IndyRoads revenue bonds, which will be secured by a pledge of gas taxes as well as county motor vehicle excise surtax and wheel tax. At the same time, we affirmed our '###' rating on the bond bank's existing debt that is payable from these sources. The outlook on all rating is stable. The '###' ratings reflect application of our "Priority-Lien Tax Revenue Debt" criteria (published Oct. 22, 2018), which factors in both the strength and stability of the pledged revenues, as well as the general credit quality of the municipality where taxes are distributed and/or collected (the obligor's creditworthiness [OC]). We consider Indianapolis to be the related obligor, and at this time, the priority-lien rating is not limited by the city's general creditworthiness....

Summary