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 (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
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Research Type: Full Analysis