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Bryant University, Rhode Island; Private Coll/Univ - General Obligation Mar 08
Standard & Poors, March 2008
Abstract
Standard & Poor's Ratings Services assigned its 'A' standard long-term rating to Rhode Island Health and Educational Building Corp.'s series 2008 conversion higher-education facility revenue bonds, issued for Bryant University. In addition, Standard & Poor's affirmed its 'A' underlying rating (SPUR) on bonds issued for the university. The 'A' rating reflects: Strong financial results that allowed Bryant to produce consistently large annual operating surpluses; Positive enrollment trends that are characterized by the steady increase in headcount and a large increase in applications; Adequate liquidity levels for the rating category, with unrestricted resources equal to 159% of operating expenses and 213% of debt; and A manageable pro forma debt burden at roughly 5% of operating expenses. Offsetting factors include the university's...
Companies mentioned in this report are: Bryant Univ,Rhode Island Hlth & Educl Bldg Corp
Action: New Rating
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
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