Northwestern University, Illinois; CP; Private Coll/Univ - General Obligation Jan 10

Standard & Poors, January 2010

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA' long-term rating on Northwestern University, Ill.'s revenue bonds. The outlook remains stable. In addition, Standard & Poor's assigned its 'A-1+' short-term rating to the university's adjustable-rate revenue series 2004 and series 2008 bonds. Both series 2004 and series 2008 bonds are subject to mandatory tender on March 1, 2011, and are expected to be remarketed at that time into a similar mode. Additionally, the Standard & Poor's rating on Northwestern's outstanding commercial paper (CP) program, authorized for $200 million, is affirmed at 'A-1+'. The 'A-1+' rating reflects liquidity provided by the university itself. The ratings reflect our assessment of Northwestern University's: Solid financial resources, with an estimated long-term investment pool of about...

Companies mentioned in this report are:
- Northwestern Univ
- Illinois Educl Fac Auth

Action: Affirmed

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

- Northwestern Univ
- Illinois Educl Fac Auth

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