Standard & Poor's Ratings Services assigned its 'A-' long-term rating to the Colorado School of Mines Development Corp.'s (CSMDC) $10.555 million refunding variable-rate demand bonds, series 2005, issued for the Colorado School of Mines Foundation. The short-term rating is 'A-1' and is based on a SBPA provided by the Bank of New York ('AA-/A-1+'). The short-term rating is capped at 'A-1' based on the correlation to the long-term rating. The long-term rating reflects: The foundation's sole purpose of supporting 'A' rated Colorado School of Mines (CSM); Governance that overlaps with CSM that ensures that the foundation and the school work closely with one another; Good fundraising, with the current $125 million campaign completed, with $130 million raised as of March
