Standard & Poor's Ratings Services assigned its 'A' rating to the Board of Trustees of the University of Northern Colorado's series 2007A auxiliary facilities system revenue refunding bonds, issued for the University of Northern Colorado. In addition, Standard & Poor's affirmed its 'A' underlying rating (SPUR) on the university's outstanding parity debt. The rating reflects: Historically stable enrollment and favorable demand trends; Receipt of steady levels of total state funding in fiscal 2006 following the implementation of Colorado's new voucher funding system; and Moderately high, but manageable, debt burden of 6.4%. The rating is offset by: Operating deficits on a full accrual basis including a $4.4 million deficit in 2006 (although the university is consistently balanced on a cash basis);...
Companies mentioned in this report are: University of Northern Colorado,Northern Colorado Univ Brd of Trustees
Action: New Rating
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