Home Credit Ratings and Research S&P Global Ratings’ Credit Research New Jersey Educl Facs Auth

S&P Afms NJ Ed Fac/Inst for Advanced Study AA Bnds

Published Jul 23, 1997

About This Report

Abstract:

NY -- Standard&Poor's CreditWire 7/23/97 -- Standard&Poor's today has affirmed its double-`A' rating on New Jersey Educational Facilities Authority's $16.3 million revenue bonds series 1991B, issued on behalf of the Institute for Advanced Study. The rating affirmation reflects the Institute's large investment pool and very strong liquidity relative to operations and debt outstanding. At fiscal year-end 1996, the Institute's unrestricted resources exceeded $175 million and provided 7.0 times (x) coverage of operating expenses and nearly 11.0x coverage of debt outstanding. An additional $12 million-$15 million of bonds should be issued by the end of calendar of 1997, which will reduce the latter ratio to about 5.6x. The Institute for Advanced Study, located in Princeton, was founded

Report Type:

Ratings Action

Issuer

New Jersey Educl Facs Auth

Sector

Public Finance

Country

United States

Region

United States

Format:

HTML

S&P Rts NJ Ed Fac Auth/Princeton Univ $120M CP A-1+ – 1997/11/04 – US$ 150.00

NJ Ed Fac Auth/Instit for Adv Studies Bnds Rtd by S&P – 1997/11/14 – US$ 150.00

Summary: New Jersey Ed Fac Auth; Revenue - Higher Education, Non-Profit Organizations; Revenue - Higher Education, Private Coll/Univ - General Obligation – 1997/11/20 – US$ 225.00

S&P Asgns 'A' to SPUR NJ Ed Fac Auth/Montclair St U – 1997/12/03 – US$ 150.00

Summary: New Jersey Ed Fac Auth; Revenue - Higher Education, Public Coll/Univ - Unlimited Student Fees – 1997/12/09 – US$ 225.00

S&P Rts New Jersey Ed Fac Auth,NJ/Princeton Univ 'AAA' – 1997/07/08 – US$ 150.00

S&P Upgrades NJ Ed Fac Auth/Seton Hall Bonds to BBB+ – 1997/06/25 – US$ 150.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "S&P Afms NJ Ed Fac/Inst for Advanced Study AA Bnds" Jul 23, 1997. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Afms-NJ-Ed-Fac-Inst-for-Advanced-Study-AA-Bnds-8043>

APA:	S&P Global Ratings’ Credit Research. (). S&P Afms NJ Ed Fac/Inst for Advanced Study AA Bnds Jul 23, 1997. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Afms-NJ-Ed-Fac-Inst-for-Advanced-Study-AA-Bnds-8043>

US$ 150.00

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Credit Research from one place.