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Summary: Pennsylvania Higher Education Facilities Authority Drexel University; Joint Criteria; Private Coll/Univ - General Obligation Sep 07 Product Image

Summary: Pennsylvania Higher Education Facilities Authority Drexel University; Joint Criteria; Private Coll/Univ - General Obligation Sep 07

  • Published: September 2007
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to Pennsylvania Higher Education Facilities Authority's series 2007A revenue bonds issued for Drexel University. The 'A+' long-term rating and 'A+' underlying ratings (SPUR) on the authority's parity debt for Drexel University were affirmed. The 'A+' rating reflects the university's: Strong financial performance demonstrated by solid operating surpluses, totaling $26.5 million in fiscal 2006, with an even larger surplus anticipated for fiscal 2007; Good growth in total net assets to $730 million as of fiscal-year-end 2006, up from $321 million just four years earlier; Impressive enrollment trends, marked by headcount growth, an increasing number of applicants for admission, and above-average student quality spurred by the institution's national reputation and niche as...

Companies mentioned in this report are:
- Drexel Univ
- Pennsylvania Hgr Ed Fac Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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- Drexel Univ
- Pennsylvania Hgr Ed Fac Auth

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