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California State University; Public Coll/Univ - Unlimited Student Fees Mar 09
Standard & Poors, March 2009
Abstract
Standard & Poor's Ratings Services revised the rating outlook on California State University's (CSU) various revenue bonds to stable from positive, reflecting our view of the state's fiscal challenges and cuts in funding. At the same time, Standard & Poor's assigned its 'A+' rating to CSU's $589 million systemwide revenue bonds, series 2009A, and affirmed its 'A+' standard long-term and underlying rating (SPUR) on CSU's other debt. The 'A+' systemwide revenue bond rating continues to be supported by our view of: CSU's distinction as the nation's largest system of higher education, with a headcount enrollment of about 466,000 students in fall 2008; Continued solid demand for CSU programs, with excellent applications growth and prudent enrollment management; The system's history of...
Companies mentioned in this report are: California St Univ
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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