Summary: Regents of the University of Minnesota University of Minnesota; Appropriations Sep 11

Standard & Poors, September 2011

Abstract
Standard & Poor's Ratings Services lowered its ratings on the Regents of the University of Minnesota's bonds secured by state appropriations to 'AA' from 'AA+' following its lowering of the rating on Minnesota's general obligation debt to 'AA+' from 'AAA' (see article published Sept. 23, 2011, on RatingsDirect on the Global Credit Portal). The outlook is stable. At the same time, Standard & Poor's assigned its 'AA' rating, and stable outlook, to the regents' special purpose revenue bonds (state supported biomedical science research facilities funding program), series 2011B. The series 2011B bonds are secured by general fund appropriations from the state of Minnesota, which are appropriated specifically for, and pledged to, debt service payments on the bonds, pursuant to Minnesota...

Companies mentioned in this report are:
- Minnesota
- University of Minnesota
- The Regents of the University of Minnesota

Action: Downgraded
Action: New Rating
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 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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Minnesota
- University of Minnesota
- The Regents of the University of Minnesota

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