Standard & Poor's Rating Services has assigned its 'A' long-term rating to Bryant University's series 2011 higher education facility revenue refunding bonds. At the same time, Standard & Poor's affirmed it 'AAA/A-1+' rating on Rhode Island Health & Educational Building Corp.'s series 2008 revenue refunding bonds, issued on behalf of the university, based on an irrevocable direct-pay LOC provided by TD Bank N.A. (AA-/A-1+). The 'AAA' long-term component of the rating is jointly based on Bryant University ('A') and TD Bank ('AA-') assuming low correlation. The short-term component of the rating is based on TD Bank (A-1+). The outlook is stable. The 'A' rating reflects our view of the university's steady increase in headcount and tuition, which has contributed to...
Companies mentioned in this report are:
- Bryant Univ
- Rhode Island Hlth & Educl Bldg Corp
Action: New Rating
Action: Outlook: Stable
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