Cornell University, New York; Private Coll/Univ - General Obligation Mar 07

Standard & Poors, March 2007

Abstract
Standard & Poor's Rating Services affirmed its long-term 'AA+' rating on various authorities' revenue bonds, issued for Cornell University and its 'A-1+' short-term rating on various bonds and notes, issued by and for the university. At the same time, Standard & Poor's affirmed its 'AA+' rating on the university's tax-exempt and taxable CP programs, in conjunction with an increase in the authorized amount of the programs to $200 million from $100 million each. The university uses external liquidity facilities to provide liquidity for its variable-rate demand obligations, but uses its own liquidity to support the purchase price of CP. The 'AA+' long-term rating reflects the university's: Impressive demand for both undergraduate and graduate/professional degree programs, coupled with a national and...

Companies mentioned in this report are:
- Cornell Univ
- New York State Dorm Auth
- Tompkins Cnty Indl Dev Agy

Action: Affirmed

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

- Cornell Univ
- New York State Dorm Auth
- Tompkins Cnty Indl Dev Agy

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