Summary: Massachusetts State College Building Authority; General Obligation; School State Program Dec 10
Standard & Poors, December 2010
Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long term rating, and stable outlook, to the Massachusetts State College Building Authority's (MSCBA) $10.6 million series 2010A project revenue bonds, $45.6 million series 2010B project revenue bonds (federally taxable build America bonds-direct pay to issuer), and $50 million series 2010C refunding revenue bonds. At the same time. Standard & Poor's assigned its 'A+' issuer credit rating to the authority's debt outstanding, based on the pledge of project revenues (rent, fees, charges) from the state universities to MSCBA. We base the 'AA-' rating on the credit enhancement provided by the statutory state aid intercept, which covers MSCBA's debt obligations. While the intercept has been a feature of this credit for many years,...
Companies mentioned in this report are:
- Massachusetts St Coll Bldg Auth
- Massachusetts
Action: Affirmed
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Massachusetts St Coll Bldg Auth
- Massachusetts
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