- Published: May 2012
Glendale Industrial Development Authority, Arizona, Midwestern University; Joint Criteria; Private Coll/Univ - General Obligation Sep 11
- Published: September 2011
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A-' underlying rating (SPUR) to Glendale Industrial Development Authority, Ariz.'s series 2011 adjustable rate demand revenue bonds issued for Midwestern University (MWU). At the same time, Standard & Poor's affirmed its 'A-' long-term rating and SPUR on MWU's series 2001A, 2001B, 2004, 2007, 2008, and 2010 bonds. Finally, Standard & Poor's affirmed its 'AAA/A-1+' rating on the series 2008 variable-rate demand bonds, reflecting our application of joint criteria (with low correlation), based on the university rating and that of a bank letter of credit. The outlook, where relevant, is stable. The 'A-' ratings reflect our view of the university's: Consistently strong operating performance, with substantial operating margins; Stable enrollment, selective demand indicators, and...
Companies mentioned in this report are: Midwestern Univ,Glendale Indl Dev Auth
Action: New Rating
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Research Type: Full Analysis
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Midwestern Univ,Glendale Indl Dev Auth
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