California Institute of Technology Bonds Rated 'AAA' Dec 02

Standard & Poors, December 2002

Abstract
NEW YORK (Standard & Poor's) Dec. 5, 2002--Standard & Poor's Ratings Services said today it assigned its 'AAA' rating to the California Educational Facilities Authority's $73 million revenue bonds, series 2003, issued for the California Institute of Technology (Caltech). Standard & Poor's also said it affirmed its 'AAA' and 'A-1+' ratings on the authority's outstanding debt issued for Caltech. The rating 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 operations 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. Complete ratings information is available to subscribers of RatingsDirect,...

Companies mentioned in this report are: California Institute of Technology,California Ed Fac Auth
Action: New Rating

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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.

California Institute of Technology,California Ed Fac Auth

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