California Institute of Technology's Tax-Exempt CP Notes Assigned 'A-1+' Rating - S&P Global Ratings’ Credit Research

California Institute of Technology's Tax-Exempt CP Notes Assigned 'A-1+' Rating

California Institute of Technology's Tax-Exempt CP Notes Assigned 'A-1+' Rating - S&P Global Ratings’ Credit Research
California Institute of Technology's Tax-Exempt CP Notes Assigned 'A-1+' Rating
Published Jul 24, 2009
Published Jul 24, 2009
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Abstract:

SAN FRANCISCO (Standard&Poor's) July 24, 2009--Standard&Poor's Ratings Services assigned its 'A-1+' short-term rating to California Educational Facilities Authority's tax-exempt commercial paper (CP) revenue notes issued for the California Institute of Technology (Caltech). "The rating on Caltech's tax-exempt CP notes and outstanding unenhanced variable-rate demand bonds, series 1994 and 2006, is based on our view of the university's committed sources of funds, including its fixed income, cash, and eligible equity investments supporting these obligations," said Standard&Poor's credit analyst Carlotta Mills. As of June 30, 2009, Caltech's endowment was around $1.4 billion, approximately $500 million of which was in cash, fixed-income and equity assets. We understand that in order to further support its self-liquidity, Caltech also

  
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MLA:
S&P Global Ratings’ Credit Research. "California Institute of Technology's Tax-Exempt CP Notes Assigned 'A-1+' Rating" Jul 24, 2009. Alacra Store. Feb 16, 2019. <http://www.alacrastore.com/s-and-p-credit-research/California-Institute-of-Technology-s-Tax-Exempt-CP-Notes-Assigned-A-1-Rating-735996>
  
APA:
S&P Global Ratings’ Credit Research. (). California Institute of Technology's Tax-Exempt CP Notes Assigned 'A-1+' Rating Jul 24, 2009. New York, NY: Alacra Store. Retrieved Feb 16, 2019 from <http://www.alacrastore.com/s-and-p-credit-research/California-Institute-of-Technology-s-Tax-Exempt-CP-Notes-Assigned-A-1-Rating-735996>
  
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