Summary: Texas A&M University System Board Of Regents; CP; Investment Earnings

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.

Abstract
Standard & Poor's Ratings Services affirmed its 'A-1+' short-term rating on the Texas A&M University System Board of Regents' permanent university fund (PUF) commercial paper (CP) notes, issued on behalf of Texas A&M University. In addition, Standard & Poor's affirmed its 'AAA' long-term and 'AAA/A-1+' ratings on the university's outstanding PUF bonds. The outlook on the long-term rating is stable. The long-term rating reflects the substantial pledge of dedicated PUF income for PUF debt service, and the short-term rating reflects the university's self-liquidity in the event of non-remarketed CP rollover. The long-term rating on the PUF bonds reflects our view of: The absolute size of the PUF, which had an unaudited market value of $12.38 billion (excluding land assets) as...

Companies mentioned in this report are: Texas A&M Univ Sys Brd Of Regents,Texas,Texas A&M Univ
Action: Affirmed

Texas A&M Univ Sys Brd Of Regents,Texas,Texas A&M Univ

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