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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 READ MORE >

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- American Univ
- District of Columbia

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