California Institute Of Technology's Series 2011 Bonds Rated 'AA+' On Strong Demand And Balanced Operations Nov 11
- ID: 2028869
- November 2011
- Region: California
- Standard & Poors
NEW YORK (Standard & Poor's) Nov. 18, 2011--Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to $350 million series 20111 taxable revenue bonds to be issued by California Institute of Technology (Caltech). We also affirmed our 'AA+/A-1+' and 'A-1+' ratings on debt previously issued for Caltech. "We lowered the long-term rating to 'AA+' from 'AAA' in September 2011, and assigned a stable outlook at that time," said Standard & Poor's credit analyst Mary Peloquin-Dodd. "The stable outlook reflects our belief that over the next two years, Caltech will likely maintain the overwhelming demand for its programs, produce balanced operations on a full accrual basis, and maintain financial resources consistent with the rating," said Ms. Peloquin-Dodd. The 'AA+' long-term...
Companies mentioned in this report are:
- California Institute of Technology
Action: New Rating
Action: Outlook: Stable
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