Summary: Massachusetts Development Finance Agency Boston University; Joint Criteria Jun 10

Standard & Poors, June 2010

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA/A-2' rating on the Massachusetts Development Finance Agency's variable-rate demand revenue bonds, Boston University series U-6C, in anticipation of the substitution of a direct-pay letter of credit (LOC) from JPMorgan Chase NA (AA-/A-1+) for a direct-pay LOC from Allied Irish Banks PLC (A-/A-2) on July 14. Following the substitution, the rating will be based on the application of the low correlation joint criteria utilizing the Standard & Poor's underlying rating (SPUR) for Boston University (A) and JPMorgan Chase Bank NA. The resulting rating will be 'AAA/A-1+' assuming no change to the ratings of Boston University or JPMorgan Chase Bank NA. The short-term rating will reflect that of JPMorgan Chase Bank NA. The current...

Companies mentioned in this report are:
- Boston Univ
- Massachusetts Development Finance Agency

Action: Affirmed
Action: Outlook: Stable

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Boston Univ
- Massachusetts Development Finance Agency

Customers who bought this item also bought

• The Irish Defense Industry - Industry Dynamics to 2017: Market Profile
• The Irish Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2017
• Public Affairs Ireland Subscription Service
• The Irish Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• The Irish Defense Industry - Market Attractiveness and Emerging Opportunities to 2017: Market Profile
• The Irish Defense Industry - Market Entry Strategy to 2017: Market Profile
• Defense Expenditure in Ireland to 2017: Market Review
• Army Expenditure in Ireland to 2017: Market Brief
• Navy Expenditure in Ireland to 2017: Market Brief
• The Irish Defense Industry - Procurement Market Dynamics to 2017: Market Profile