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Summary: Univ of Maryland Sys; Revenue - Higher Education, Public Coll/Univ - Unlimited Student Fees Feb 99 Product Image

Summary: Univ of Maryland Sys; Revenue - Higher Education, Public Coll/Univ - Unlimited Student Fees Feb 99

  • Published: February 1999
  • Region: Maryland
  • Standard & Poors

Abstract
The 'AA+' rating on University of Maryland System's bonds reflects a tuition and fee pledge supported by: * The system's role as the main provider of public higher education in Maryland, * Stable enrollment and admissions, * Strong historical financial performance, and * Moderate debt burden. The system has agreed to collect tuition revenues and auxiliary facility fees each year in an amount to equal not less than 2 times (x) maximum annual debt service on all bonds. Current pledged revenues cover pro forma debt service by about 8.2x. Bond proceeds will be used to finance a portion of $174 million worth of projects, including new projects and renovations on various system campuses. Remaining project costs will be financed with...

Companies mentioned in this report are:
- Univ Sys of Maryland

Action: New Rating

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, READ MORE >

- Univ Sys of Maryland

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