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Summary: Connecticut Health & Educational Facilities Authority Sacred Heart University; Private Coll/Univ - General Obligation
Standard & Poors, April 2011
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services has assigned its 'BBB' long-term rating to Connecticut Health & Educational Facilities Authority's series 2011G revenue bonds, issued for Sacred Heart University. Standard & Poor's also assigned its 'BBB' underlying rating (SPUR) to the series 2011E bonds and affirmed its 'BBB' long-term rating on the university's previously issued revenue bonds. The bonds are a general obligation of the university. The outlook is stable. The 'BBB' rating reflects our assessment of the university's: Strong operating performance, with consistently large operating surpluses; Growing full-time equivalent (FTE) enrollment and increasing undergraduate applications coupled with stable selectivity and matriculation; and Adequate financial resources for the rating category. In our opinion, the preceding credit strengths are partly offset by the...
Companies mentioned in this report are: Sacred Heart Univ,Connecticut Hlth & Educl Facs Auth
Action: New Rating
Action: Outlook: Stable
Sacred Heart Univ,Connecticut Hlth & Educl Facs Auth