New York State Dormitory Authority St. Lawrence University; Private Coll/Univ - General Obligation Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services has affirmed its 'A' long-term rating on New York State Dormitory Authority's revenue bonds, issued for St. Lawrence University. The outlook is stable. The 'A' rating reflects our opinion of St. Lawrence's healthy operating surpluses over the past two fiscal years, growing enrollment coupled with stable demand, good financial resources, and prudent management team. More specifically, the 'A' rating reflects our assessment of St. Lawrence's: Positive operating performance on a full accrual basis, with good surpluses of $6.8 million in fiscal 2011 and $5.7 million in fiscal 2010; Good financial resources for the rating category, with $145 million of expendable resources as of June 30, 2011, equal to 97% of operating expenses and 135% of...

Companies mentioned in this report are:
- St Lawrence Univ
- New York State Dorm Auth

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: Full Analysis

- St Lawrence Univ
- New York State Dorm Auth

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