S&P rates NV IA 2026A Go Corp bonds AA-; outlook stable

S&P rates NV IA 2026A Go Corp bonds AA-; outlook stable

S&P Global Ratings Assigns AA- to Iowa and Nevada 2026A General Obligation Bonds; Outlook Stable

S&P Global Ratings has assigned an AA- long-term credit rating to the Series 2026A General Obligation (GO) Corporate Purpose Bonds issued by Decorah, Iowa; Newton, Iowa; and the State of Nevada, with a stable outlook for all issuances according to S&P's regulatory announcement(https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3507860). The ratings reflect the entities' strong fiscal management, adequate liquidity, and alignment of bond purposes with established credit profiles, according to S&P's criteria.

For Iowa municipalities Decorah and Newton, the AA- rating underscores their capacity to meet debt service obligations, supported by stable local economies. The bonds are backed by the full faith and credit of the issuing governments, ensuring repayment through general fund resources. Similarly, the State of Nevada's 2026A bonds benefit from the state's robust revenue streams. S&P noted that Nevada's fiscal policies and structural advantages contribute to its investment-grade rating.

The stable outlook indicates S&P expects no significant changes to the credit quality of these issuers over the near term. This includes maintaining debt service coverage ratios above benchmarks and avoiding exposure to severe economic or demographic shocks. Investors are advised to monitor state and local government spending trends, as well as broader macroeconomic conditions, which could influence future ratings actions.

No material weaknesses or risks were identified in the bond structures, with covenants and legal frameworks deemed sufficient(https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3507860) to protect investor interests. The ratings are effective immediately, and S&P has scheduled the reports for publication in its regulatory filings.

For further details, refer to S&P's official regulatory disclosures(https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3507860).

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