[MLT] Summary: Massachusetts Development Finance Agency Tufts University; Private Coll/Univ - General Obligation Mar 12
- Language: English
- Published: March 2012
- Region: Massachusetts
Standard & Poor's Ratings Services affirmed its 'AA-/A-1' dual rating on the Massachusetts Health and Educational Facilities Authority's $30.5 million series G revenue bonds issued for Tufts University. The rating reflects our expectation that the variable-rate demand bonds will be converted to a daily mode from a weekly mode on July 1, 2009. Standard & Poor's also affirmed its 'AA-' long-term ratings and 'AA-' underlying rating (SPUR) issued for Tufts University. The 'A-1+' rating is based on a standby bond purchase agreement provided by Bank of America N.A. ('A-1') The long-term rating reflects: Exceptional fiscal management, supported by consistent generation of an operating surplus with a small, above-budgeted operating surplus expected for fiscal 2009; Financial resources are satisfactory for the...
Companies mentioned in this report are:
- Tufts Univ
Action: Outlook: Stable
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- Tufts Univ