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Maine Health & Higher Educational Facilities Authority Colby College; Private Coll/Univ - General Obligation Dec 11
Standard & Poors, December 2011
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
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: Full Analysis
Colby Coll,Maine Hlth & Hgr Educl Facs Auth