New Jersey Educational Facilities Authority Princton University; CP; Private Coll/Univ - General Obligation Sep 08
- ID: 1826994
- September 2008
- Region: New Jersey
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA' rating to New Jersey Educational Facilities Authority's $250 million series 2008J fixed-rate revenue bonds, issued for Princeton University. Standard & Poor's also affirmed its 'AAA' long-term rating and its A-1+ short-term rating on the university's preexisting debt. The 'AAA' rating reflects the university's general obligation pledge, supported by Princeton's: Impressive demand for undergraduate and graduate programs; Considerable financial flexibility, afforded by a diverse revenue stream and exceptional liquidity relative to operating expenses and post-issuance debt; Stable and experienced leadership; Sizable investment pool of $17.2 billion as of May 31, 2008, which makes the university one of the nation's most heavily endowed institutions, on a per student basis; and Manageable debt burden compared...
Companies mentioned in this report are:
- Princeton Univ
- New Jersey Educl Facs Auth
Action: New Rating
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Research Type: Full Analysis