Illinois Finance Authority Illinois Wesleyan University; Higher Education, Private Coll/Univ - General Obligation Nov 05

Standard & Poors, November 2005

Abstract
Standard & Poor's Ratings Services assigned its 'A-' rating, and stable outlook, to Illinois Finance Authority's series 2005 revenue bonds, issued for Illinois Wesleyan University (IWU). Standard & Poor's also affirmed its 'A-' standard long-term rating and Standard & Poor's underlying rating (SPUR), and stable outlook, on Illinois Wesleyan University's parity debt outstanding. The outlook remains stable over a two-year outlook period. IWU's stable student enrollment and sound liquidity levels, however, support the ratings as the university's new management works to eliminate operating deficits. The ratings further reflect the university's: Improved liquidity, which is still somewhat low for the rating category, with unrestricted resources equal to 80% of operating expenses and 86% of pro forma debt; New management and financial...

Companies mentioned in this report are:
- Illinois Wesleyan Univ
- Illinois Educl Fac Auth
- Illinois Fin Auth

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: Full Analysis

- Illinois Wesleyan Univ
- Illinois Educl Fac Auth
- Illinois Fin Auth

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