Cornell University, New York; Higher Education, Private Coll/Univ - General Obligation; Public Finance Structured, Liquidity Facility May 04

  • ID: 1953497
  • May 2004
  • Region: New York
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'AA+' rating to $45.0 million series 2004A revenue bonds and $47.1 million series 2004B revenue bonds issued by Dormitory Authority of the State of New York for Cornell University, N.Y. The 'AA+' long-term rating and 'A-1+' short-term rating on various bonds, issued by and for the university, were also affirmed. In addition, Standard & Poor's affirmed its 'A-1+' rating that was recently assigned to Cornell's new taxable CP program with an authorized limit of $100 million. The affirmation of the 'AA+' rating reflects the university's: Impressive demand for both undergraduate and graduate/professional-level degree programs, and a national and international reputation as one of the largest Ivy League institutions; Strong revenue diversity, consistently favorable...

Companies mentioned in this report are:
- Cornell Univ
- Dorm Auth of the St of New York

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

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- Cornell Univ
- Dorm Auth of the St of New York

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