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Allegheny County Higher Education Building Authority, Pennsylvania Duquesne University; Private Coll/Univ - General Obligation Jan 12
Standard & Poors, Jan 2012
Abstract
Standard & Poor's Ratings Services has affirmed its 'A-' long-term rating and underlying rating (SPUR) on bonds issued by Allegheny County Higher Education Building Authority, Pa. on behalf of Duquesne University. The outlook is stable. The 'A-' rating is supported by the university's strong operating performance, which is mitigated by the financial resources that are below average for the rating category. In our opinion, the university's stable enrollment and demand metrics provide additional support for the rating. Management expects to issue an additional $17 million of debt in fiscal 2013 for the renovation of student housing on campus. We included the additional debt in our assessment and believe that if the university maintains operating surpluses and adequate financial resources, there...
Companies mentioned in this report are: Duquesne Univ,Allegheny Cnty Hgr Ed Bldg 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
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