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Summary: Drexel University, Pennsylvania; Joint Criteria; Private Coll/Univ - General Obligation Apr 11 Product Image

Summary: Drexel University, Pennsylvania; Joint Criteria; Private Coll/Univ - General Obligation Apr 11

  • Published: April 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services has lowered its long-term rating and underlying rating (SPUR) to 'A' from 'A+' on debt issued by Pennsylvania Higher Educational Facilities Authority for Drexel University. At the same time, Standard & Poor's assigned its 'A' long-term rating to the series 2011A bonds issued for the university by the authority. The rating outlook is stable. Standard & Poor's also affirmed its 'AAA/A-1+' rating, with a stable outlook, on the authority's series 2000 bonds and affirmed its 'AA/B' rating on the authority's series 2003B bonds, both issued for Drexel University. The 'AA/B' rating remains on CreditWatch with negative implications. The long-term component of the rating is based on the joint support of Drexel University and letters of...

Companies mentioned in this report are:
- Drexel Univ

Action: Downgraded
Action: New Rating
Action: Outlook: Stable
Action: On CreditWatch:Negative

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- Drexel Univ

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