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California Institute of Technology Bonds 'AAA' and 'AAA/A-1+' Ratings Affirmed Mar 01
Standard & Poors, March 2001
Abstract
NEW YORK (Standard & Poor's CreditWire) March 30, 2001--Standard & Poor's today affirmed its triple-'A'/'A-1'-plus and triple-'A' ratings on the California Educational Facilities Authority's outstanding bonds issued for the California Institute of Technology (Caltech). The rating reflects: -- Highly competitive admissions for both undergraduate and graduate students; -- A worldwide reputation for excellence in its science and engineering programs, enhanced by the institute's operations of several renown research laboratories and facilities; -- Considerable financial flexibility afforded by a diverse revenue base and significant endowment; and -- A very low debt burden. Located in Pasadena, on a very attractive campus, Caltech is a private, supported research institution and university. Bolstered by an outstanding faculty and highly qualified students (the entering class...
Companies mentioned in this report are: California Institute of Technology
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: 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.
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