Rating Action: Moody's assigns Aa1 to Indianapolis Local Public Improvement Bond Bank's (IN) lease bonds; outlook stable
New York, March 06, 2019 -- Moody's Investors Service assigns a Aa1 rating to the $610 million Community Justice Campus Bonds, Series 2019A (Courthouse and Jail Project) and $12.6 million Community Justice Campus Bonds, Series 2019B (Assessment and Intervention Center Project). The bonds are issued by the Indianapolis Local Public Improvement Bond Bank and are ultimately secured by lease payments made by Indianapolis-Marion County (the city). Concurrently, Moody's has affirmed the city's Aaa issuer rating. The outlook is stable.
The issuer rating represents Moody's assessment of hypothetical debt of the city supported by a general obligation unlimited tax (GOULT) pledge.