The ‘AAA’ rating reflects the ability of Iowa Finance Authority’s (IFA) financial structures to absorb hypothetical pool defaults in excess of Fitch Ratings’ ‘AAA’ stress scenario without causing interruption in bond payments. Aggregate pool credit risk is measured using Fitch’s Portfolio Stress Model (PSM), and the strength of the program’s financial structure is measured using Fitch’s Cash Flow Model.
Wed 08 Jan, 2025