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California Municipal Finance Authority, California Loma Linda University; Private Coll/Univ - General Obligation Nov 09
Standard & Poors, Nov 2009
Abstract
Standard & Poor's Ratings Services affirmed its 'A' long-term rating on California Municipal Finance Authority's outstanding series 2007 revenue bonds, issued for Loma Linda University (LLU). The long term rating reflects our view of LLU's: Unique position as a flagship Seventh-Day Adventist university providing various graduate and undergraduate programs in the health services professions; Strong demand, particularly for its graduate programs, which are seeing growing applications, good selectivity, and a matriculation rate that reaches 90% for some of its programs; A still substantial endowment of $439.5 million as of March 31, 2009, although returns were negative 16.6% for the year and most of the funds are restricted; Strong operating surpluses, including a $43 million surplus in fiscal 2008 and balanced...
Companies mentioned in this report are: Loma Linda Univ,California Municipal Finance Authority
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
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