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Washington University, Missouri; Private Coll/Univ - General Obligation Oct 08 Product Image

Washington University, Missouri; Private Coll/Univ - General Obligation Oct 08

  • ID: 1827319
  • October 2008
  • Region: Missouri, Washington
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to the $190 million Missouri Health and Educational Facilities Authority (MOHEFA) educational facilities revenue bonds, series 2008A, issued on behalf of Washington University (WU). We also affirmed our 'AAA' long-term rating on various educational facilities revenue bonds issued by MOHEFA for WU. The short-term 'A-1+' ratings on various WU bonds reflect bank liquidity support for variable-rate demand bonds. The 'AAA' long-term rating reflects the university's: Strong balance sheet, with 2008 unrestricted resources equal to 2.6x operating expenses and 4.3x pro forma debt. Liquidity based on total cash and investments is even stronger; Consistently strong operating performance, a high level of revenue diversity, and proven fundraising capacity; Manageable pro forma debt...

Companies mentioned in this report are:
- Washington Univ
- Missouri Hlth & 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

- Washington Univ
- Missouri Hlth & Educl Facs Auth

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