Standard & Poor's Ratings Services rating services assigned its 'A+' long-term rating to the Massachusetts State College Building Authority (MSCBA) $136 million series 2009A bonds. In addition, Standard & Poor's affirmed its 'A+' underlying rating (SPUR) rating on the rated debt of the authority. The A+ rating reflects: MSCBA's strong oversight of projects at each state college; Revenue-producing nature of the projects funded by the debt and good flexibility for setting rents and other rates; Strong levels and maintenance of reserve funds supporting outstanding debt; Good demand for state colleges and high occupancy rates for MSCBA-supported residential halls; Solid support from the commonwealth of Massachusetts (AA/Stable) for state colleges; and The intercept program, which allows the MSCBA to intercept state...
Companies mentioned in this report are:
- Massachusetts St Coll Bldg Auth
Action: New Rating
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