Summary: Massachusetts Development Finance Agency Tufts University; Private Coll/Univ - General Obligation Jan 11

Standard & Poors, January 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Massachusetts Development Finance Agency's $50.4 million series P (2011) revenue bonds and affirmed its 'AA-' long-term rating and 'AA-' underlying rating (SPUR) on the university's various other bonds issued for Tufts University. The 'AA-/A-1' and AA-/A-1+' ratings were also affirmed. The 'A-1' and 'A-1+' short-term components of the ratings on the series G, N-1, and N-2 variable-rate demand bonds reflect the university's long-term rating and external liquidity in the form of standby bond purchase agreements (SBPAs) provided by two different banks: JPMorgan Chase Bank N.A and Bank of America N.A. The series P bonds will be issued as multimodal bonds and will initially be issued in term mode for...

Companies mentioned in this report are:
- Tufts Univ
- Massachusetts Development Finance Agency

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

- Tufts Univ
- Massachusetts Development Finance Agency

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