Dartmouth College, NH's Outstanding Debt Lowered To 'AA+; Outlook Is Stable May 09
- ID: 2046586
- May 2009
- Standard & Poors
SAN FRANCISCO (Standard & Poor's) May 22, 2009-- Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to New Hampshire Health and Education Facilities Authority's series 2009 revenue bonds, issued for Dartmouth College. At the same time, Standard & Poor's lowered its long-term component of the rating on Dartmouth's fixed-rate and variable-rate demand bonds outstanding to 'AA+' from 'AAA', and affirmed its 'A-1+' short-term component of the rating on the same bonds, issued by New Hampshire Health and Education Facilities Authority. The outlook is stable. The downgrade reflects continued operating deficits on a full accrual basis, with balanced operations on a budgetary basis not expected until fiscal 2011; significant debt issuance; a decline in expendable resources to $3.35 billion...
Companies mentioned in this report are: Dartmouth Coll,New Hampshire Hlth & Educl Facs Auth
Action: New Rating
Action: Outlook: Stable
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