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'AAA' Rating Assigned To Iowa Finance Authority's Nearly $182.3 Million State Revolving Fund Revenue Bonds Nov 11
Standard & Poors, Nov 2011
Abstract
CHICAGO (Standard & Poor's) Nov. 29, 2011-- 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 'AAA' rating reflects our view of the authority's large and diverse loan portfolio paired with a very competent management team with a proven track record of managing it,' said Standard & Poor's credit analyst Scott Garrigan. 'Further supporting the rating is the program's sufficient reserve levels, which meet our state-revolving fund criteria for 'AAA' rated programs,' Mr. Garrigan added. Management indicates...
Companies mentioned in this report are: Iowa Fin Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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