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The Broad Institute Inc., MA's Series 2011A-B Bonds Rated 'AA-' On History Of Strong Financial Metrics Apr 11

  • ID: 1718083
  • April 2011
  • Standard & Poors
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BOSTON (Standard & Poor's) April 12, 2011--Standard & Poor's Ratings Services has assigned its 'AA-' long-term rating to the Massachusetts Development Finance Agency's $271.4 million series 2011A tax-exempt bonds and $85.0 million 2011B taxable bonds issued for The Broad Institute Inc. The Broad Institute is a genomic medicine research center located in Cambridge, Mass. Standard & Poor's considers the Broad's financial resources adequate for the current rating. The rating is further supported by the Broad's highly regarded position as a research partner with Massachusetts Institute of Technology (MIT), Harvard University, and the Boston academic medical centers, conducting transformational projects intended to redefine biomedicine in future years; long history of research, with 25 years of experience in its field; and independence...

Companies mentioned in this report are:
- Broad Institute
- Massachusetts Development Finance Agency

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
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- Broad Institute
- Massachusetts Development Finance Agency

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