University of Cincinnati, Ohio; Higher Education, Public Coll/Univ - Unlimited Student Fees Apr 02
- ID: 1781264
- April 2002
- Region: Ohio
- Standard & Poors
The 'SP-1+' rating on the University of Cincinnati (UC), Ohio's general-receipts BANs, series 2002E, reflects the university's: Strong market-access record, Strong, 'AA' long-term rating, and Parity lien on pledged general receipts. In addition, the 'AA' rating on the 2002D general-receipts bonds and outstanding parity bonds reflects the university's long-term credit quality. Within the general-receipts program, the university's BANs are on parity with outstanding bonds. After the issuance, there will be outstanding $385.2 million in bonds and $55.6 million in notes. The university has a long and successful history of short-term borrowing for capital projects, with either repayment or conversion to permanent financing once the projects are complete. Post-issuance short-term debt is a manageable $55.6 million, around 12.6% of general-receipts debt...
Companies mentioned in this report are:
- University of Cincinnati
Action: New Rating
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