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'AAA/A-1+' And 'AAA' Ratings On Northwestern University, IL Debt Affirmed On Solid Financial Resources
Standard & Poors, Feb 2009
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) Feb. 2, 2009--Standard & Poor's Rating Services affirmed its 'AAA' long-term rating on Northwestern University's revenue bonds. In addition, Standard & Poor's affirmed its 'AAA/A-1+' dual rating on Illinois Finance Authority's adjustable-rate revenue bonds series 2004-B ( $67.9 million); series 2008-B bonds ( $50 million); and series 2008-C bonds ($25 million), which will be converted to a 364-day adjustable-rate mode on Feb. 2, 2009. The series 2004-A ($67.9 million) and series 2008-A bonds ($50 million) will remain in an adjustable weekly rate mode. The 'A-1+' short-term components on the series 2004-A and 2008-B bonds' dual rating are based on the self-liquidity provided by the university. The 'AAA' rating reflects NU's solid financial resources, with an...
Companies mentioned in this report are: Northwestern Univ,Illinois Fin Auth
Action: Affirmed
Action: Outlook: Stable
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