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'AAA/A-1+' And 'AAA' Ratings On Northwestern University, IL's Bonds Affirmed On Strong Credit Trends Mar 09
Standard & Poors, March 2009
Abstract
NEW YORK (Standard & Poor's) March 23, 2009--Standard & Poor's Rating Services affirmed its 'AAA' long-term rating on Northwestern University's outstanding revenue bonds. In addition, Standard & Poor's affirmed its 'AAA/A-1+' ratings on the Illinois Finance Authority's series 2004-A adjustable-rate revenue bonds ( $67.9 million) and series 2008-A bonds ( $50 million), which are expected to convert to a 364-day adjustable-rate mode on April 1, 2009. We have evaluated the university's self-liquidity and expect to assign an 'A-1+' short-term rating on the series 2004-A and 2008-A bonds, which reflects the system's general credit strengths and strong management team. Standard & Poor's also affirmed its ratings on the authority's adjustable-rate revenue bonds series 2004-B ($67.9 million); series 2008-B bonds ( $50...
Companies mentioned in this report are: Northwestern Univ,Illinois Fin Auth
Action: Affirmed
Action: Outlook: Stable
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.
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