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S&P Credit Research887 word report
published Jul 02, 2009
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| Abstract: | 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 (SRU) of Pennsylvania. The rating on the bonds 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; Full project completion for both the phase I and phase II housing, with 98% occupancy at full build-out in fall 2008. Management expects similar occupancy levels for fall 2009; No additional housing
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Pennsylvania Higher Education Facilities Authority Slippery Rock University Foundation Inc.; Auxiliary - System Publication date: 02-Jul-2009 Primary Credit Analyst: Susan Carlson, Chicago 1 (312)...
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| Report Type: | Summary
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| Issuer: | Slippery Rock Univ Foundn
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| Sector: | Global Issuers, Public Finance
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| Country: | United States
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| Region: | United States
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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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