Summary: 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: Affirmed
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

California St Univ

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