Standard & Poor's Ratings Services has assigned its 'AA-' rating to the University of California Board of Regents general revenue bonds series 2003A to reflect the underlying security of general revenues of the university system and the university's general credit strengths. Although this debt is being issued under a new resolution for the regents, it is rated on parity with the university's Issuer Credit Rating (ICR) and outstanding debt issued for multiple purpose projects of the system. Standard & Poor's has lowered the ICR, as well as the ratings on research facilities and various leases, to reflect the impact of the state's budget problems on the system's operations. The State of California provides roughly one quarter of the university's total...
Companies mentioned in this report are:
- University of California Brd of Regents
Action: New Rating
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