New Jersey Educational Facilities Authority Kean University; Public Coll/Univ - Unlimited Student Fees Oct 11
Standard & Poors, October 2011
Abstract
Standard & Poor's Ratings Services has affirmed its 'A-' rating and underlying rating (SPUR) on New Jersey Educational Facilities Authority's revenue bonds, issued on behalf of Kean University. The rating outlook is stable. The 'A-' rating reflects our opinion of the university's general obligation (GO) pledge supported by our view of: Strong demand for the university's academic programs, demonstrated by a 22.1% increase in total headcount and a 17.5% increase in freshman applications over the past five years, with continued enrollment growth expected in fall 2011; Consistently positive operating performance on a full-accrual basis and conservative budgeting practices, with continued positive results expected for the fiscal year ending June 30, 2011; and Use of dedicated fees to support debt service...
Companies mentioned in this report are: Kean Univ,New Jersey Educl Facs Auth
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
Kean Univ,New Jersey Educl Facs Auth
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