Rockefeller University, New York; Higher Education, Private Coll/Univ - General Obligation; Public Finance Structured, Liquidity Facility Apr 05

Standard & Poors, April 2005

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating to New York State Dormitory Authority's $65 million series 2005A bonds, issued for Rockefeller University. In addition, Standard & Poor's affirmed its 'AAA' long-term ratings and 'A-1+' short-term ratings on the university's outstanding debt. The outlook is stable. The rating reflects the university's GO pledge, which is supported by: A world-class reputation in the field of biomedical research, with strong levels of federal and private funding; Strong management and a prominent, dedicated board with an impressive record of giving; Investments of nearly $1.5 billion, highlighted by excellent investment performance and portfolio diversity; Excellent revenue diversity; Solid levels of unrestricted resources relative to operations and debt; and A high, but manageable, debt...

Companies mentioned in this report are:
- Rockefeller Univ
- 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 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

- Rockefeller Univ
- New York State Dorm Auth

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