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California Institute Of Technology; Private Coll/Univ - General Obligation Mar 09
Standard & Poors, March 2009
Abstract
Standard & Poor's Ratings Services revised its outlook to negative from stable and affirmed its 'AAA' and 'AAA/A-1+' ratings on the California Educational Facilities Authority's outstanding debt, issued on behalf of the California Institute of Technology (Caltech). The short-term rating reflects our opinion of the institute's provision of its own liquidity, which was issued in the weekly rate mode. The long-term rating reflects our opinion of Caltech's: Highly competitive admissions for both undergraduate and graduate students; Worldwide reputation for its excellence in science and engineering programs, which is enhanced by its operation of several renowned research laboratories and facilities; Financial flexibility, afforded by a diverse revenue base and still-significant endowment ($1.4 billion in investments at Jan. 31, 2009); Good fundraising...
Companies mentioned in this report are: California Institute of Technology,California Ed Fac Auth
Action: Outlook Revised
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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