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New Jersey Educational Facilities Authority Princton University; CP; Private Coll/Univ - General Obligation Sep 08 Product Image

New Jersey Educational Facilities Authority Princton University; CP; Private Coll/Univ - General Obligation Sep 08

  • ID: 1826994
  • September 2008
  • Region: New Jersey
  • Standard & Poors

Abstract
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

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

- Princeton Univ
- New Jersey Educl Facs Auth

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