Massachusetts Institute Of Technology's Taxable Revenue Bonds Rated 'AAA' On Strong Financial And Demand Trends
- Language: English
- Published: May 2011
- Region: Massachusetts
Standard & Poor's Ratings Services has assigned its 'AAA' long-term ratings on up to $750 million series B MIT taxable revenue bonds, to be issued by Massachusetts Institute of Technology (MIT). We also affirmed our 'AAA' and 'A-1+' long- and short-term ratings on previously debt issued for and by MIT. The outlook is stable. The ratings reflect our opinion of MIT's unconditional unsecured general obligation pledge, supported by the institute's: Status as a preeminent research institute with $1.370 billion in research revenues in fiscal 2010; Strong financial resources provided by an endowment and similar funds of $8.3 billion as of June 30, 2010; Significant demand, excellent student quality, and increasingly competitive admissions; Strong operating performance, supported by good revenue diversity...
Companies mentioned in this report are: Massachusetts Inst of Tech
Action: New Rating
Action: Outlook: Stable
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