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Baylor University, Texas Waco Education Finance Corporation; CP; Private Coll/Univ - General Obligation
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: Full Analysis
Abstract
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 'A-1+' short-term rating on Baylor's CP notes 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 $50 million for its CP program. As of Oct. 31, 2010, the university identified...
Companies mentioned in this report are: Baylor Univ,Waco Ed Fin Corp
Action: New Rating
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