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California Institute of Technology; Higher Education, Private Coll/Univ - General Obligation Sep 04
Standard & Poors, Sep 2004
Abstract
The affirmed 'AAA' rating on the California Educational Facilities Authority's bonds, issued for the California Institute of Technology (Caltech), reflects: Highly competitive admissions for both undergraduate and graduate students; A worldwide reputation for excellence in science and engineering programs, enhanced by the institute's operation of several renowned research laboratories and facilities; Considerable financial flexibility, afforded by a diverse revenue base and significant endowment; and A low level of debt. Located in Pasadena, on a very attractive campus, Caltech is a privately supported research institution and university. Bolstered by an outstanding faculty and highly qualified students (the entering class in fall 2003 had an average SAT score of 1505), the school has a reputation as one of the finest schools of...
Companies mentioned in this report are: California Institute of Technology,California Ed Fac 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
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