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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

  • ID: 1931622
  • 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

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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.

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- Univ Sys of Maryland

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