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Bourbonnais Village, Illinois, Olivet Nazarene University; Private Coll/Univ - General Obligation Sep 11
Standard & Poors, Sep 2011
Abstract
Standard & Poor's Ratings Services affirmed its 'BBB' long-term rating on Olivet Nazarene University (ONU), Ill.'s outstanding bonds issued by the university and Bourbonnais Village. The bonds are a general obligation of the university secured by a pledge of gross revenues. The outlook on all ratings is positive. The outlook was revised to positive on July 9, 2010, reflecting ONU's continued strength of operations and what we believe to be sustainable efforts to stabilize enrollment. Factors supporting the rating include our assessment of ONU's: Stable to growing full-time equivalent (FTE) enrollment during the five-year period ended June 30, 2011; Consistently positive operating results on a full-accrual basis with operating margins ranging from 1.5% to 10.0% on a full-accrual basis since...
Companies mentioned in this report are: Olivet Nazarene Univ,Bourbonnais Vill
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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