Columbia University, New York; Higher Education, Private Coll/Univ - General Obligation; Transportation, CP Feb 03

Standard & Poors, February 2003

Abstract
The 'AAA' rating on the New York State Dormitory Authority's bonds, issued for Columbia University, reflects a GO pledge, supported by impressive demand; a strong balance sheet, with endowment at $4.24 billion at the close of fiscal 2002; a diverse stream of revenues; effective long-range planning and budgeting that has improved both operations and facilities; the recent completion of a very large capital campaign; and continued strength in sponsored research. The rating also reflects stable financial operations, reduced levels of endowment spending over time, and manageable plans for new debt beyond the current capital improvement plan. The 'A-1+' rating reflects the university's ability to provide liquidity to support the purchase price of bonds that have been tendered and any commercial...

Companies mentioned in this report are:
- Columbia Univ
- New York State Dorm Auth

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, 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: Full Analysis

- Columbia Univ
- New York State Dorm Auth

Customers who bought this item also bought

• Library Use of Video & Audio, 2011-2012 Edition
• Higher Education Interlibrary Loan Management Benchmarks, 2013 Edition
• The Survey of Academic Library Subject Specialists: Political Science, Public and International Affairs
• The Survey of Academic Library Subject Specialists: Political Science & Public/International Affairs
• Best Practices in Student & Faculty Assessment, 2012 Edition
• The Survey of Institutional Digital Repositories, 2012-13 Edition
• Information Literacy Efforts Benchmarks, 2013 Edition
• The Survey of Academic Libraries, 2008-09 Edition
• The Survey of Distance Learning Programs in Higher Education, 2012-13 Edition
• The Survey of Library Cafes, 2012-13 Edition