The 'AAA' long-term rating on University of Texas (UT) System Board of Regents' revenue financing system (RFS) bonds, series 2002A and 2002B, reflects: Significant financial resources--the board's $2.9 billion endowment ranks among the top 20 largest higher education endowments in the U.S.; and the $6.7 billion (as of July 31, 2002) Permanent University Fund (PUF), a separate fund of which two-thirds benefits UT, is the second largest endowment in the country. High profile institutional characteristics, including significant research activity, a visible health care component, and systemwide enrollment exceeding 153,000 students. Broad revenue diversity. Strong state of Texas (GO rated 'AA') financial support--in fiscal 2001, state funding exceeded $1.5 billion, or $13,200 per full-time equivalent student. A broad security pledge provided...
Companies mentioned in this report are:
- Univ of Texas Sys Brd of Regents
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >