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Baylor Univ, TX's Revenue Refunding Bonds Assigned 'AA-' Rating On History of Solid Finances
Standard & Poors, March 2008
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
DALLAS (Standard & Poor's) March 25, 2008--Standard & Poor's Ratings Services assigned its 'AA-' rating to Waco Education Finance Corporation's $112.7 million revenue refunding bonds, series 2008C, issued on behalf of Baylor University. The outlook is stable. 'The university has a healthy endowment that has grown from $550 million in fiscal 2003 to $1.1 billion in fiscal 2007 and despite the lack of a formal capital campaign -- management plans to start a major campaign in the near future -- it has seen successful fundraising since fiscal 2003,' said Standard & Poor's credit analyst Bianca Gaytan-Burrell. 'In addition, the university has a history of balanced financial performance with consecutive operating surpluses.' Baylor University, founded in 1845, is the oldest university...
Companies mentioned in this report are: Baylor Univ,Waco Ed Fin Corp
Action: New Rating
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