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Boston University, Massachusetts; Joint Criteria; Private Coll/Univ - General Obligation Nov 09
Standard & Poors, Nov 2009
Abstract
Standard & Poor's Ratings Services raised its long-term rating on debt issued for Boston University (BU), Mass. to 'A' from 'A-'. At the same time, Standard & Poor's assigned its 'A' long-term rating to BU's series V bonds The rating outlook is stable. The upgrade is based on our assessment of BU's exceptionally strong operating performance in recent years despite the difficult economic environment in fiscal years 2009 and 2010; improving financial resources compared with its peers as total net assets have only declined by 5.3% compared with an estimated average of more than 25% for most higher education institutions; limited debt plans in the next few years; and a strong management team. The 'A' rating is supported by: Consistently...
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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