Indianapolis Local Public Improvement Bond Bank Debt Rating Raised To 'AA-' From 'A' On Criteria Application


CHICAGO (S&P Global Ratings) March 14, 2019--S&P Global Ratings raised its 
long-term ratings on 19 obligations issued by the Indianapolis Local Public 
Improvement Bond Bank on behalf of the city of Indianapolis, two notches to 
'AA-' from 'A'. 

At the same time, S&P Global Ratings raised its long-term ratings on certain 
bonds issued by the bond bank on behalf of the Health & Hospital Corp. (HHC) 
of Marion County, one notch to 'AA+' from 'AA'. The outlook on all ratings is 
stable.

"The upgrades are based on the application of our "Issue Credit Ratings Linked 
To U.S. Public Finance Obligors' Creditworthiness," criteria, published Jan. 
22, 2018", said S&P Global Ratings credit analyst Anna Uboytseva.

The rating on the HHC bonds also reflects our determination that the hospital 
corporation debt would not be rated under our revised "U.S. And Canadian 
Not-For-Profit Acute Care Health Care Organizations" criteria, published March 
19, 2018.


The stable outlook on the moral obligation and HHC bonds is equivalent to the 
outlook on the Indianapolis GO rating, and moves in tandem with the city's GO 
outlook.

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