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Boston University, Massachusetts; Higher Education, Private Coll/Univ - General Obligation Jun 05
Standard & Poors, June 2005
Abstract
Standard & Poor's Ratings Services assigned its 'BBB+' rating to the Massachusetts Development Finance Agency's $167 million fixed-rated revenue bonds, series T, issued for Boston University. In addition, Standard & Poor's affirmed its 'BBB+' underlying rating and standard long-term rating on the university's outstanding GO debt. The outlook is stable. The rating reflects: A large, comprehensive academic program; Strong student demand, excellent student quality, and a national draw, with only 20% of the entering freshman class coming from Massachusetts; Consistently good financial operations; and An endowment market value of slightly more than $770 million as of April 30, 2005. Offsetting factors include: Low levels of liquidity for the current rating, with expendable resources at only 34% of operating expenses and...
Companies mentioned in this report are: Boston Univ,Massachusetts Development Finance Agency
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
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