New York State Dormitory Authority Iona College; Private Coll/Univ - General Obligation Dec 07

Standard & Poors, December 2007

Abstract
Standard & Poor's Ratings Services affirmed its 'BBB' underlying rating on New York State Dormitory Authority's revenue bonds, issued for Iona College, N.Y. The rating reflects the college's: Solid operating surpluses on a full-accrual basis for the past seven years; Adequate enrollment and growing demand; Low and declining debt burden of 2.9% in fiscal 2007, and no additional debt plans; and Management successfully achieving capital improvement and enrollment goals. Offsetting factors include the college's: Low levels of liquidity, with unrestricted resources of $10 million, equal to 10% of operating expenses and 27% of debt; Small endowment of approximately $21 million for fiscal 2007; and High dependence on tuition and fees of 93%. Enrollment remains solid and demand continues to increase....

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

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

- Iona Coll
- New York State Dorm Auth

Customers who bought this item also bought

• The Survey of Assessment Practices in Higher Education, 2013 Edition
• The Survey of Distance Learning Programs in Higher Education, 2012-13 Edition
• Best Practices in Student & Faculty Assessment, 2012 Edition
• The Survey of Adult & Continuing Education Programs in Higher Education
• Higher Education Revenue Outlook, 2013 Edition
• Best Practices in Student Retention, 2012 Edition
• The Survey of Academic Librarians: Use of Associations, Blogs, Listservs, Conferences, & Publications about Libraries
• Academic Library Website Benchmarks, 2013 Edition
• Survey of Student Retention Policies in Higher Education
• Dual Enrollment: Strategies, Outcomes, and Lessons for School-College Partnerships. New Directions for Higher Education, Number 158. J-B HE Single Issue Higher Education