Summary: Rhode Island Health & Educational Building Corp. Bryant University; Joint Criteria; Private Coll/Univ - General Obligation Nov 11

Standard & Poors, November 2011

Abstract
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: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Bryant Univ,Rhode Island Hlth & Educl Bldg Corp

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