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Summary: Univ of Texas Sys Brd of Regents; Higher Education, Public Coll/Univ - Unlimited Student Fees; Transportation, CP Aug 02

  • ID: 2048454
  • August 2002
  • Region: Texas
  • Standard & Poors
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Abstract
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

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- Univ of Texas Sys Brd of Regents

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