Credit Quality In U.S. State Clean And Drinking Water Programs Is Likely To Remain Strong, Report Says Nov 12
- Language: English
- Published: November 2012
- Region: United States
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to Iowa Finance Authority's nearly $182.3 million series 2011 state revolving fund (SRF) revenue bonds. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating on the authority's outstanding revolving fund bonds. The outlook on all ratings is stable. The rating reflects our view of the authority's: Large and diverse loan portfolio; Sufficient reserve levels to meet Standard & Poor's state-revolving fund criteria for 'AAA'-rated programs that includes cross-collateralization between clean water and drinking water portfolios; and Very competent management team with a proven track record of managing the loan portfolio. Debt service is secured by the trust estate, which consists primarily of pledged loan revenues, reserve funds,...
Companies mentioned in this report are:
- Iowa Fin Auth
Action: New Rating
Action: Outlook: Stable
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- Iowa Fin Auth