Connecticut Health & Educational Facilities Authority Hopkins School; Independent Schools Mar 12
Standard & Poors, March 2012
Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' long-term rating on Connecticut Health & Education Facilities Authority's series B and C revenue bonds, issued for Hopkins School. The outlook is stable. Hopkins' healthy operating surpluses and good demand profile offset its low levels of financial resources. We believe that Hopkins' low tuition discounting and prudent fiscal management give it flexibility in its operating budget to achieve full accrual surpluses and net tuition revenue growth. The 'AA-' rating reflects our view of Hopkins': Healthy financial operations with the consistent generation of operating surpluses based on generally accepted accounting principles (GAAP) and a surplus of approximately $1.6 million expected for fiscal 2012; Good demand profile characterized by an average matriculation rate of...
Companies mentioned in this report are: Hopkins School,Connecticut Hlth & Educl Facs 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
Hopkins School,Connecticut Hlth & Educl Facs Auth
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