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
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