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Summary: Northwestern University, Illinois; CP; Private Coll/Univ - General Obligation Dec 07

  • ID: 1723118
  • December 2007
  • Region: Illinois
  • Standard & Poors
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Abstract
Standard & Poor's Ratings Services revised its rating outlook to positive on the Illinois Finance Authority's tax-exempt bonds, issued for Northwestern University. In addition, Standard & Poor's affirmed its 'AA+' rating on Northwestern's debt and affirmed its 'A-1+' rating on the university's outstanding parity short-term debt. The 'AA+' rating reflects the university's: Exceptional student quality (with a fall 2007 average SAT of 1421) and strong student demand for its comprehensive academic programs, evidenced by increasing freshman selectivity (to an impressive 24.8% in fall of 2007 from 34.2% in fall 2002); Excellent liquidity -- supported by approximately $6.5 billion of total investments -- further boosted by an estimated net cash receipt of $575 million on Dec. 19, 2007, related to the...

Companies mentioned in this report are:
- Northwestern Univ
- Illinois Finance Authority

Action: Affirmed
Action: On CreditWatch:Positive

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 READ MORE >

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- Northwestern Univ
- Illinois Finance Authority

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