Grinnell College, IA 2014, 2010 Bond Rating Affirmed At 'AAA'

NEW YORK (Standard&Poor's) Jan. 22, 2016--Standard&Poor's Ratings Services affirmed its 'AAA' long-term rating to Iowa Higher Education Loan Authority's series 2014 and 2010 bonds issued for Grinnell College. The outlook is stable. "We assess Grinnell's enterprise profile as very strong based on good demand, geographically diverse student body, and strong competition for students," said Standard&Poor's credit analyst Carolyn McLean. The financial profile is also very strong, characterized by overwhelming financial resource ratios and thin operations with full-accrual deficits. Combined, these factors lead to an indicative stand-alone credit profile of 'aa.' The college's significant cash and investments to debt and exceptionally strong expendable resources and cash to operating expenses and debt relative peers in the

...NEW YORK (Standard & Poor's) Jan. 22, 2016--Standard & Poor's Ratings Services affirmed its '###' long-term rating to Iowa Higher Education Loan Authority's series 2014 and 2010 bonds issued for Grinnell College. The outlook is stable. "We assess Grinnell's enterprise profile as very strong based on good demand, geographically diverse student body, and strong competition for students," said Standard & Poor's credit analyst Carolyn McLean. The financial profile is also very strong, characterized by overwhelming financial resource ratios and thin operations with full-accrual deficits. Combined, these factors lead to an indicative stand-alone credit profile of '##.' The college's significant cash and investments to debt and exceptionally strong expendable resources and cash to operating expenses and debt relative peers in the '##' and '###' category continue to support a '###' rating. Although the college has plans for additional debt in the next two years, we believe metrics will continue...

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