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Albany Industrial Development Agency, New York University at Albany Foundation Student Housing Corp.; Auxiliary - Stand Alone Feb 12
Standard & Poors, Feb 2012
Abstract
Standard & Poor's Ratings Services has revised the outlook to positive from stable on its issuer credit rating (ICR) on University at Albany Foundation Student Housing Corp., N.Y. and on its underlying rating (SPUR) on Albany Industrial Development Agency, N.Y.'s series 2001 civic facility revenue bonds, issued on behalf of the corporation. Standard & Poor's also affirmed its 'A-' ICR on the corporation and its 'A-' long-term rating on the series 2001 bonds. The outlook revision reflects debt service coverage that has consistently exceeded expectations and a trend of strong occupancy at the Empire Commons. Positive credit factors include our view of the corporation's: High level of connectivity with the university, demonstrated by the project's on-campus location and the university's...
Companies mentioned in this report are: University at Albany Foundation Student Housing Corporation,Albany Indl Dev Agy
Action: Outlook Revised
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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