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University of Cincinnati Ratings Lowered To 'A+' And 'A' Jan 06

  • ID: 1781695
  • January 2006
  • Standard & Poors
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  • University of Cincinnati
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NEW YORK (Standard & Poor's) Jan. 9, 2006Standard & Poor's Rating Services has lowered its rating on the University of Cincinnati (UC), Ohio's general receipts bonds to 'A+' from 'AA-', and its rating on UC's certificates of participation to 'A' from 'A+'. The outlook is stable. At the same time, the rating agency assigned its 'A+' long-term rating to UC's $54.77 million general receipts revenue bonds series 2006A, and its 'SP-1+' short-term rating to UC's $40 million general receipts revenue bond anticipation notes (BANs) series 2006B. The downgrade reflects a history of structural operating deficits, combined with projected negative performance in the near future, on both a consolidated full accrual basis and a current fund basis; a high debt burden...

Companies mentioned in this report are:
- University of Cincinnati

Action: Downgraded
Action: New Rating
Action: Outlook: Stable

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
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- University of Cincinnati

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