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Carlow University, PA's Series 2011 Revenue Bonds Assigned 'BBB-' Rating
Standard & Poors, May 2011
Abstract
CHICAGO (Standard & Poor's) May 12, 2011-- Standard and Poor's Ratings Services assigned its 'BBB-' long-term rating to the Allegheny County Higher Education Building Authority, Pa.'s series 2011 revenue bonds issued on behalf of Carlow University. The outlook is stable. 'The rating reflects our view of the university's overall enrollment growth and operating surpluses on a full accrual basis for the past five years,' said Standard & Poor's credit analyst Shari Sikes. 'Further supporting the rating is the university's modest pro forma maximum annual debt service burden.' The series 2011 revenue bond issue is approximately $18.0 million, expected to be structured as serial, fixed rate debt. We understand that $7.5 million will be used to refund the outstanding series 2005...
Companies mentioned in this report are: Carlow University,Allegheny Cnty Hgr Ed Bldg Auth
Action: New Rating
Action: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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