Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to the series 2011 fixed-rate revenue bonds to be issued for Columbia University by the New York State Dormitory Authority. In addition, Standard & Poor's affirmed its 'AAA' and 'A-1+' ratings on the debt previously issued for the university, also by the authority. The 'AAA' rating reflects the university's unconditional general obligation pledge, supported by what we view as Columbia's: Impressive demand, excellent student quality, and increasingly competitive admissions; Still-strong endowment with a market value of managed assets at roughly $6.5 billion as of June 30, 2010, which rebounded from $5.9 billion as of June 30, 2009; Diverse revenue stream, effective long-range planning, and budgeting that has improved both operations...
Companies mentioned in this report are:
- Columbia Univ
- Dorm Auth of the St of New York
Action: New Rating
Action: Outlook: Stable
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