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Summary: District Of Columbia American University; Joint Criteria; Private Coll/Univ - General Obligation Mar 11

  • ID: 1929889
  • March 2011
  • Region: United States
  • Standard & Poors
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FEATURED COMPANIES

  • American Univ
  • District of Columbia
  • MORE

Abstract
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: Affirmed
Action: Outlook: Stable

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 READ MORE >

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- American Univ
- District of Columbia

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