Massachusetts Development Finance Agency Williams College; Private Coll/Univ - General Obligation Jul 12
- Language: English
- Published: July 2012
- Region: Massachusetts
Standard & Poor's Ratings Services assigned its 'AAA' rating to Massachusetts Health and Educational Facilities Authority's series N revenue bonds, issued for Massachusetts Institute of Technology (MIT). Standard & Poor's also affirmed its 'AAA' and 'A-1+' rating on debt previously issued for MIT. The ratings reflect the institute's unconditional general obligation pledge, supported by: Overwhelming demand, excellent student quality, and increasingly competitive admissions; A preeminent research institute; A strong endowment with a market value at roughly $10 billion as of June 30, 2007; Impressive financial resources with expendable resources equaled to 4.3x operating expenses and 7x pro forma debt; Strong revenue diversity and demonstrated ability to raise funds; and High, but still manageable debt levels. The institute is providing its...
Companies mentioned in this report are: Massachusetts Inst of Tech
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
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Massachusetts Inst of Tech