Related Issuers
Related Issuers
Indiana Finance Authority
View frequently asked questions (FAQ) for Indiana Finance Authority.
Appropriation Debt: Bond issues of some agencies or authorities carry a potential state liability for making up shortfalls in the issuing entity's obligation. (Fabozzi, Frank J. (2009). Institutional Investment Management: Equity and Bond Portfolio Strategies and Applications.Hoboken: John Wiley & Sons, Inc.)
Pricing Date: This is the actual date on which the price is set for the security which is being offered.
The IFA primarily issues Appropriation-Backed Debt. As required by the Indiana Constitution, (Article 10, Section 5), the State of Indiana does not issue General Obligation (GO) Debt. The IFA also issues conduit debt; a key point is that this debt is the responsibility of the conduit borrower. Investors in conduit debt should not look to the IFA or the State of Indiana as a guarantor of this debt.
The IFA receives annual ratings from the municipal debt rating agencies of Standard & Poor's, Moody's, and Fitch Ratings.