Summary: Princeton University, New Jersey; CP; Private Coll/Univ - General Obligation Jan 10
- ID: 1827489
- January 2010
- Region: New Jersey
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to New Jersey Educational Facilities Authority $250 million series 2010B revenue bonds, issued for Princeton University. Standard & Poor's also affirmed its 'AAA' long-term rating on the previously issued debt by and for Princeton and its 'A-1+' short-term rating on the university's commercial paper (CP) program. The 'A-1+' rating on the CP program reflects liquidity provided by Princeton University to cover the purchase price of CP that is not successfully remarketed or rolled over. The 'AAA' rating reflects the university's general obligation pledge, supported by our assessment of Princeton's: Impressive demand for undergraduate and graduate programs; Considerable financial strength characterized by revenue diversity, historically strong financial performance, and historically low...
Companies mentioned in this report are:
- Princeton Univ
- New Jersey Educl Facs Auth
Action: New Rating
Action: Outlook: Stable
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