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Baylor University, Texas; CP; Private Coll/Univ - General Obligation
Standard & Poors, Nov 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: Full Analysis
Abstract
Standard & Poor's Ratings Services assigned its 'A-1+' short-term rating to Baylor University, Texas' taxable commercial paper (CP) notes, series A. In addition, Standard & Poor's affirmed its 'AA-/A-1+' rating on the series 2008A and series 2008B and its 'AA-' long-term rating on the series 2008C revenue refunding bonds, which were issued by the Waco Education Finance Corporation for the university. The 'A-1+' short-term rating on Baylor's CP notes, series A reflects the general obligation pledge of the university and its ability to cover any failed rollovers from its liquid funds. In July 2008, the Baylor University Board of Regents authorized the amount of $50 million for its CP program. As of Oct. 31, 2008, the university identified ample cash...
Companies mentioned in this report are: Baylor Univ,Waco Ed Fin Corp
Action: New Rating
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