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'A-' Rating Assigned To J. David Gladstone Institutes, CA's $119 Million Revenue Bonds Due To Good Revenue Diversity Oct 11
Standard & Poors, Oct 2011
Abstract
SAN FRANCISCO (Standard & Poor's) Oct. 7, 2011-- Standard & Poor's Ratings Services assigned its 'A-' long-term rating to California Infrastructure and Economic Development Bank's $119 million series 2011A revenue bonds, issued for the J. David Gladstone Institutes (Gladstone). At the same time, Standard & Poor's affirmed its 'A-' long-term rating on Gladstone's series 2001 bonds, which will be refunded in large part from 2011 bond proceeds. The outlook on all ratings is stable. 'The rating reflects our view of Gladstone's good revenue diversity and solid reputation as a medical research organization,' said Standard & Poor's credit analyst Geraldine Poon. 'Further supporting the rating in our view is management's forward-looking strategies to combat possible declines in federal funding for research,'...
Companies mentioned in this report are: J. David Gladstone Institutes,California Infrastructure & Econ Dev Bnk
Action: Affirmed
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.
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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