Cameron University, Oklahoma; Public Coll/Univ - Unlimited Student Fees Dec 07
Standard & Poors, December 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
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Research Type: Full Analysis
Cameron Univ,Brd of Regents of the University of Oklahoma
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