Summary: New York State Dormitory Authority Rockefeller University; Private Coll/Univ - General Obligation Mar 09

Standard & Poors, March 2009

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA' long-term rating and 'AAA/A-1+' dual rating on New York State Dormitory Authority's outstanding series 1998, 1998A, 2002A-1, 2002A-2, 2005A, and 2008A bonds, issued for Rockefeller University (Rockefeller). The 'A-1+' short-term rating reflects the self-liquidity provided by Rockefeller to cover any unremarketed puts of its series 2008A, 2005A, 2002A2, and 1998A variable-rate demand bonds, which total approximately $242 million. Rockefeller has external bank facilities dedicated to the outstanding variable-rate demand bonds in addition to a sufficient amount of internal same-day liquidity of high quality treasuries and agency securities. The outlook is stable. Credit strengths include: A world-class reputation in the field of biomedical research; Strong management with a record of managing ongoing operations...

Companies mentioned in this report are: Rockefeller Univ,New York State Dorm Auth
Action: Affirmed
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Rockefeller Univ,New York State Dorm Auth

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