Research And Markets Research And Markets

Summary: Northwestern Univ Illinois Fin Auth Illinois Fin Auth; CP; Private Coll/Univ - General Obligation Jun 08

  • ID: 1723240
  • June 2008
  • Region: Illinois
  • Standard & Poors
1 of 3

Standard & Poor's Rating Services has raised the rating on Northwestern University's debt to 'AAA' from 'AA+'. The outlook is stable. In addition, Standard & Poor's has assigned an 'AAA/A-1+' rating to the Illinois Finance Authority's $125 million variable rate series 2008 bonds, issued for Northwestern University (NU). The upgrade to 'AAA' reflects strong growth in an already large endowment compared with operating expenses and debt, continuation of strong demand, and the expectation that future debt will remain manageable. The 'AAA' rating also reflects: Excellent liquidity, with a long-term investment pool of $7.3 billion as of April 30, 2008, which has grown in part due to NU's sale of 50% of royalty revenues from a drug invented at Northwestern. Strong...

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

Action: New Rating
Action: Upgraded

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- Northwestern Univ
- Illinois Finance Authority

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown