It isn't IG at all. It's the next down at the B35.
You are correct in suggesting "Intentional Grounding" applies
ONLY to "
Forward Passes". NFHS:7-4 covers "Fumble & BACKWARD pass, 7-4-2 advises, "If a fumble or
BACKWARD PASS is caught or
RECOVERED by any player, he may
ADVANCE. "
NEVER blow a backward pass dead simply because it might be incomplete (Behind, at or Beyond the NZ).
NFHS 2-31-6 confirms that, stating, "A backwards pass ends when it is caught,
RECOVERED or is Out of bounds."