Cornell University, NY $50M Revenue Bonds Rated 'AA+' Mar 00
- ID: 1953373
- March 2000
- Region: New York
- Standard & Poors
NEW YORK (Standard & Poor's CreditWire) March 15, 2000--Standard & Poor's today assigned its double-'A'-plus rating to Cornell University, N.Y.'s $50 million civic facility revenue bonds series 2000, issued by Tompkins County Industrial Development Agency, N.Y. In addition, Standard & Poor's raised its ratings on various Cornell University debt (see list below). The double-'A'-plus rating assignment and the upgrade is based on: -- The university's impressive financial profile characterized by a $2.9 billion endowment fund and consistent operating surpluses from a diverse revenue base, -- Very strong demand statistics as evidenced by a high level of selectivity and solid student quality indicators, and -- A strong reputation as one of the most widely recognized Ivy League institutions nationally and abroad....
Companies mentioned in this report are:
- Cornell Univ
- Dorm Auth of the St of New York
- Tompkins Cnty Indl Dev Agy
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: 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.