Susan Carlson, Chicago (1) 312-669-9182; John Kenward, Chicago (1) 312-669-9166 The rating on Iowa State Board of Regents' (Regents) bonds, issued for Iowa State University of Science and Technology ISU (ISU), includes the following credit factors: The university's general credit strength and strong level of state support as a land-grant institution; The dormitory system's financial strength and diversity; Sound university-wide financial performance; Stable demand; and Moderate 5.6% debt burden. An offsetting credit factor is limited amounts of unrestricted monies. The dormitory bond rating is differentiated due to a more limited pledged revenue stream. Dormitory bonds are on parity with $56.4 million outstanding bonds and are secured by net revenues of the university's residence system, which consists of three residence complexes
