Summary: Ohio Higher Education Facility Commission Case Western Reserve University, Ohio; Joint Criteria

Standard&Poor's Ratings Services confirmed its ratings on Ohio Higher Education Facility Commission's debt due to the bank facility being extended to Jan. 1, 2017. The long-term rating is jointly based on the rating of the obligor, Case Western Reserve University, Ohio, and the letter of credit (LOC) provider, PNC Bank N.A., assuming low correlation. The short-term component of the rating is based solely on the LOC provider, PNC Bank N.A. Criteria: Methodology And Assumptions: Approach To Evaluating Letter Of Credit-Supported Debt, Feb. 20, 2015 USPF Criteria: Municipal Applications For Joint Support Criteria, June 25, 2007 Criteria: Joint Support Criteria Update, April 22, 2009

...Standard & Poor's Ratings Services confirmed its ratings on Ohio Higher Education Facility Commission's debt due to the bank facility being extended to Jan. 1, 2017. The long-term rating is jointly based on the rating of the obligor, Case Western Reserve University, Ohio, and the letter of credit (LOC) provider, PNC Bank N.A., assuming low correlation. The short-term component of the rating is based solely on the LOC provider, PNC Bank N.A....

Summary