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Vassar College, New York; Private Coll/Univ - General Obligation Mar 07 Product Image

Vassar College, New York; Private Coll/Univ - General Obligation Mar 07

  • Published: March 2007
  • Region: New York
  • Standard & Poors

FEATURED COMPANIES

  • New York State Dorm Auth
  • Vassar Coll
  • MORE

Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating to the Dormitory Authority of New York's $130 million revenue bonds, series 2007, issued for Vassar College, and affirmed its ratings on the college's outstanding debt. Repayment of the bonds is a general obligation of Vassar College. The rating reflects the college's: Stable enrollment and exceptionally strong student demand, with a fall 2006 acceptance rate of 30% and strong freshman retention at 95%; Solid liquidity for the rating category, with 2006 unrestricted resources equal to 307% of expenses and 400% of pro forma debt; Healthy level of endowment, reaching $742 million as of June 30, 2006; and Manageable debt burden. Offsetting factors include somewhat above average endowment draws, and negative but...

Companies mentioned in this report are:
- Vassar Coll
- New York State Dorm Auth

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 READ MORE >

- Vassar Coll
- New York State Dorm Auth

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