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Summary: Iowa St Brd of Regents; Revenue - Higher Education, Auxilliary - System; Revenue - Higher Education, Public Coll/Univ - Unlimited Student Fees Nov 99

  • ID: 1815234
  • November 1999
  • Region: Iowa
  • Standard & Poors

The rating on Iowa State Board of Regents' (Regents) bonds, issued for Iowa State University of Science and Technology ISU (ISU), includes the following credit factors: The university's general credit strength and strong level of state support as a land-grant institution; The dormitory system's financial strength and diversity; Sound university-wide financial performance; Stable demand; and Moderate 5.6% debt burden. An offsetting credit factor is limited amounts of unrestricted monies. The dormitory bond rating is differentiated due to a more limited pledged revenue stream. Dormitory bonds are on parity with $56.4 million outstanding bonds and are secured by net revenues of the university's residence system, which consists of three residence complexes with dining halls housing 8,970 students. Total system occupancy was...

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