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Bulletin: Credit Effects From Possible Transfer Of Angelo State U From Texas State U System Undetermined Apr 07
Standard & Poors, April 2007
Abstract
SAN FRANCISCO (Standard & Poor's) April 20, 2007--The Texas legislature is currently considering SB1749, which moved yesterday to the senate full committee from the sub-committee. SB1749 would transfer Angelo State University (ASU) out of Texas State University System (TSUS; 'A+/Stable') and into Texas Tech University System (TTUS; 'AA/Stable'). If approved, this legislation would transfer the responsibility of governance, control, management, and property of ASU--including the university's assets and liabilities. TSUS currently has outstanding debt of $550 million. ASU has approximately $450 million of assets and $80 million of debt and, with a headcount of 6,218, is the third-largest of nine universities within TSUS. The system's bonds are secured by available revenues of all campuses including tuition, fees, auxiliary revenues, and...
Companies mentioned in this report are: Texas St Univ Sys Brd of Regents,Texas Tech Univ Sys
Action: Bulletin
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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