Maine Health & Higher Educational Facilities Authority Colby College; Private Coll/Univ - General Obligation Dec 11
Standard & Poors, December 2011
Abstract
Standard & Poor's Ratings Services has assigned its 'AA+' long-term rating to Maine Health & Higher Educational Facilities Authority's series 2012 revenue bonds issued for Colby College. The bonds are unconditional general obligation of Colby College. The outlook is stable. The 'AA+' rating reflects our assessment of Colby's solid demand, large endowment, and consistently positive operating performance coupled with a conservative approach to budgeting and management. More specifically, the rating reflects our view of the college's: Solid demand profile, characterized by a 29% acceptance rate and strong student quality; Consistently positive operating performance on a full accrual basis including a $6 million surplus (5% margin) in fiscal 2011, and an historically low endowment spend rate; Strong financial resources for the...
Companies mentioned in this report are: Colby Coll,Maine Hlth & Hgr Educl Facs Auth
Action: New Rating
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Research Type: Full Analysis
Colby Coll,Maine Hlth & Hgr Educl Facs Auth
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