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Bond Ratings On American University, DC Raised To 'A+' On Strong Financial And Enrollment Trends Sep 09
Standard & Poors, Sep 2009
Abstract
NEW YORK (Standard & Poor's) Sept. 24, 2009--Standard & Poor's Ratings Services raised its long-term and underlying (SPUR) ratings to 'A+' from 'A' on the District of Columbia's revenue bonds issued for American University. Standard & Poor's also raised its issuer credit rating (ICR) to 'A+' from 'A' on American University. The short-term rating on the series 1999 bonds was raised to 'A-1+' from 'A-1', reflecting a standby bond purchase agreement (SBPA) from TD Bank N.A. ('AA-/A-1+'), which expires July 20, 2010. Standard & Poor's also affirmed the 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+'...
Companies mentioned in this report are: American Univ,District of Columbia
Action: Affirmed
Action: Outlook: Stable
Action: Upgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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