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Boston University; Pf Structured, Letter of Credit; Revenue - Higher Education, Private Coll/Univ - General Obligation May 98
Standard & Poors, May 1998
Abstract
The 'BBB+' rating on Boston University's (BU) bonds reflects the university's: Large, comprehensive programs; Stable enrollment and admissions; Above-average student quality; Consistently profitable financial operations; and Growing endowment. These factors are offset by its: Location in the competitive Boston area, Low liquidity, and Significant debt burden. The variable-rate demand bond rating reflects an LOC from Landesbank Hessen-Thueringen Girozentrale ('AAA/A-1+'). Over the past decade, BU's headcount enrollment (29,857) has been stable, and management plans to maintain a full-time equivalent enrollment of about 23,000 students in the future. The undergraduate school remains fairly competitive with 55% of freshmen applicants accepted and mean SAT scores of 1,263. However, BU is not a first-choice school, as reflected in a matriculation rate of 26.3%. In...
Companies mentioned in this report are: Boston Univ
Action: Affirmed
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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