|
|
 |
|
Viewing report
|
|
|
|
Bradley University, Illinois; Private Coll/Univ - General Obligation
Standard & Poors, Feb 2007
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
Abstract
Standard & Poor's Ratings Services assigned its 'A-' long-term rating to Bradley University, Ill.'s series 2007 revenue bonds. Additionally, Standard & Poor's affirmed its 'A-' underlying rating (SPUR) on the Illinois Development Finance Authority's series 2002 and 1999 revenue bonds, issued for Bradley University. The outlook is positive. Rating factors include the university's: Stable enrollment and improved demand profile, coupled with stable near-term demographics for graduating high school students in Illinois; Consistent operating surpluses on a full accrual basis; Adequate liquidity for the rating category, with 2006 unrestricted resources of $141 million, equal to 99% of budget, 274.5% of outstanding debt, and 112% of pro forma debt; A moderate debt burden of 5.3%; and Some tuition flexibility relative to peer...
Companies mentioned in this report are: Bradley Univ,Illinois Fin Auth,Illinois Dev Fin Auth
Action: New Rating
|
|
|
|
