Standard & Poor's Ratings Services affirmed its 'A+' long-term and underlying (SPUR) ratings on the District of Columbia's revenue bonds issued for American University. Standard & Poor's also affirmed its 'A+' issuer credit rating (ICR) on American University. At the same time, Standard & Poor's affirmed its long-term 'AAA/A-1' ratings on the series 2003 and 2006 bonds, reflecting the application of low-correlation joint criteria with a letter of credit (LOC) from Bank of America N.A. (A+/A-1) and the 'A+' SPUR on American University's debt. The 'A-1' short-term component of the rating reflects the Bank of America LOCs, which expire May 15, 2013, and May 20, 2013. The 'A-1' short-term component of the rating on the series 1999 bonds is based...
Companies mentioned in this report are:
- American Univ
- District of Columbia
Action: Outlook: Stable
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