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
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.