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Cameron University, Oklahoma; Public Coll/Univ - Unlimited Student Fees Dec 07
Standard & Poors, Dec 2007
Abstract
Standard & Poor's Ratings Services affirmed its 'A-' underlying rating (SPUR) on the University of Oklahoma Board of Regents' $9 million student housing revenue bonds, series 2004, issued on behalf of Cameron University. The rating affirmation reflects: Strong operating and capital support from the state of Oklahoma ('AA/Stable'), which represents 43% of the university's 2007 operating revenue; Adequate debt service coverage (DSC) for the housing system bonds of 1.4x for fiscal 2006 and 1.6x for 2007; Adequate liquidity for a small public institution, with 2007 adjusted unrestricted net assets equal to 28% of expenses and 52% of total debt; and A very low 1.1% debt burden, excluding Oklahoma capital improvement leases (which the state appropriates funds on behalf of Cameron),...
Companies mentioned in this report are: Cameron Univ,Brd of Regents of the University of Oklahoma
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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