S&P gives A rating to Indianapolis airport bonds

Standard & Poor's said it assigned an A long-term rating to Indianapolis Local Public Improvement Bond Bank's variable-rate revenue bonds series 2008C, issued on behalf of the Indianapolis Airport Authority.

The outlook is stable.

The bonds will be issued in five subseries. Subseries 2008C-1 and 2008 C-2, at $100 million each, are due Jan. 1, 2037. Subseries 2008C-3, 2008C-4 and 2008C-5, at $50 million each, are due Jan. 1, 2033.

Part of the series proceeds will be used to refund all or a portion of the authority's outstanding commercial paper.

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