New Jersey Educational Facilities Authority Rowan University; Public Coll/Univ - Unlimited Student Fees

Standard & Poors, March 2008

Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to New Jersey Educational Facilities Authority's series 2008B revenue bonds, issued for Rowan University. At the same time, Standard & Poor's affirmed its 'A+' long-term rating and underlying rating (SPUR) on the university's debt. The 'A+' rating reflects the university's: Good liquidity for a publicly supported university with adjusted unrestricted net assets equal to 36% of debt and 53% of adjusted operating expense; Strong financial performance demonstrated by a consistent generation of operating surpluses; Healthy admissions flexibility, evidenced by growing student demand, competitive acceptance rates, good matriculation rates, and improving student quality; Strong management team with a history of good strategic planning; and And financial support from the state of...

Companies mentioned in this report are: Rowan Univ,New Jersey Educl Facs Auth
Action: New Rating

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: Full Analysis

Rowan Univ,New Jersey Educl Facs Auth

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