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Brevard County, Florida TUFF Florida Tech LLC; Private Coll/Univ - General Obligation Jun 11
Standard & Poors, June 2011
Abstract
Standard & Poor's Ratings Services has affirmed its 'BBB-' long-term rating to the Brevard County, Fla. series 2009 industrial development revenue bonds, issued for TUFF Florida Tech LLC. The limited liability company (LLC) used bond proceeds to build or refinance the construction of housing, parking, student services, and academic facilities on the Florida Institute of Technology (Florida Tech) campus in Melbourne, Fla. Florida Tech is a midsize private institution of higher education with a niche in science and engineering. Securing the bonds is a lease agreement between Florida Tech (the institution) and TUFF Florida Tech LLC, under which the institution agrees to make annual lease payments. Florida Tech's obligation to pay is a general obligation of the institution, further secured...
Companies mentioned in this report are: TUFF Florida Tech LLC,Brevard Cnty,Florida 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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