; and (B) excluding administrative costs and any incidental effects on governmental receipts or outlays in accordance with the Federal Credit Reform Act of 1990 ( 2 U.S.C. 661 et seq.). (20) Substantial completion The term substantial completion means, with respect to a project receiving credit assistance under the BIFIA program— (A) the commencement of the provision of broadband service using the infrastructure being financed; or (B) a comparable event, as determined by the Assistant Secretary and specified in the credit agreement. 3. Determination of eligibility and project selection (a) Eligibility (1) In general A project shall be eligible to receive credit assistance under the BIFIA program if— (A) the entity proposing to carry out the project submits a letter of interest prior to submission of a formal application for the project; and (B) the project meets the criteria described in this subsection. (2) Creditworthiness (A) In general Except as provided in subparagraph (B), to be eligible for assistance under the BIFIA program, a project shall satisfy applicable creditworthiness standards, which, at a minimum, shall include— (i) adequate coverage requirements to ensure repayment; (ii) an investment-grade rating from at least 2 rating agencies on debt senior to the Federal credit instrument