Summary: University of Cincinnati, Ohio; Lease; Note; Public Coll/Univ - Unlimited Student Fees Feb 12
- Language: English
- Published: February 2012
- Region: Ohio
The 'SP-1+' rating on the University of Cincinnati, Ohio's BANs reflects the university's: Strong market-access record, Strong, 'AA' long-term rating, Lien on pledged general receipts, subject only to a prior lien on $226 million of outstanding long-term debt. The university has a long and successful history of short-term borrowing for capital projects, with conversion to permanent financing once the projects are complete. Note proceeds will be used to refund prior notes issued to finance various capital projects, including a new fire-alarm system, bridge financing for College Conservatory of Music renovations, the Baldwin Hall renovation, computer-equipment upgrading, and building renovations. The university expects to repay the notes from state capital appropriations and, for a portion of the music-conservatory project, gift proceeds....
Companies mentioned in this report are:
- University of Cincinnati
Action: New Rating
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