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Baylor University, Texas' $120 Million Refunding Bonds Assigned 'AA-' Rating
Standard & Poors, Nov 2010
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) Nov. 10, 2010-- Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Waco Education Finance Corporation, Texas' $120 million series 2010 revenue and refunding bonds, issued for Baylor University. In addition, Standard & Poor's affirmed its 'A-1+' short-term rating on the university's taxable commercial paper (CP) notes, its 'AA-/A-1+' rating on the university's series 2008A bonds, and its 'AA-' long-term rating on the university's series 2008C revenue refunding bonds. The outlook is stable. 'The rating reflects our view of the university's consecutive operating surpluses on a full accrual basis, as well as a moderate pro forma debt service burden,' said Standard & Poor's credit analyst Bianca Gaytan-Burrell. 'Further supporting the rating is the solid...
Companies mentioned in this report are: Baylor Univ,Waco Ed Fin Corp
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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