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S&P Credit Research566 word report
published Jul 02, 2009
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S&P Credit Research
| Abstract: | CHICAGO (Standard&Poor's) July 2, 2009--Standard&Poor's Ratings Services assigned its 'BBB+' long-term rating to the Pennsylvania Higher Education Facilities Authority's $75.185 million outstanding series 2005A, and $53.045 million outstanding series 2007A revenue bonds, issued for the Slippery Rock University Foundation Inc., for student housing projects at Slippery Rock University of Pennsylvania. The outlook is stable. "The rating reflects the non-recourse security pledge of net revenues from the series 2005A phase I bonds (1,380 beds) and the series 2007A phase II bonds (742 beds), which are issued on parity with each other," said Standard&Poor's credit analyst Susan Carlson. "Debt service coverage starting in fiscal 2010, the first full year of operation without some level of capitalized
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| Brief Excerpt: | RESEARCH Ratings Definitions Slippery Rock University Foundation, PA's Revenue Bonds Assigned '###+' Rating Publication date: 02-Jul-2009 Primary Credit Analyst: Susan Carlson, Chicago 1 (312) 233-7006; susan_carlson@standardandpoors.com...
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| Report Type: | Ratings Action
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| Issuer: | Slippery Rock Univ Foundn
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| Sector: | Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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