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California Municipal Finance Authority Loma Linda University; Private Coll/Univ - General Obligation Mar 11
Standard & Poors, March 2011
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 outlook is stable. The 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 programs; Solid endowment of $492 million as of Dec. 31, 2010 ($123,000 per full-time enrollment, or FTE), though the majority is restricted, and a low debt burden; and Good financial resources for the rating category, with expendable resources of $153 million...
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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