Massachusetts' Amherst College on Rating High Going Into Next Week's $50M Deal

Piazza, Johanna
June 2003
Bond Buyer;6/20/2003, Vol. 344 Issue 31661, p3
Trade Publication
For Amherst, Massachusetts-based Amherst College, an affirmation in the week ending June 20, 2003 of its Aaa rating from Moody's Investors Service Inc. and an upgrade to AAA from Standard & Poor's Corp. came as a pleasant surprise amid other downgrades in Massachusetts' education sector. This spring, Williams College and Deerfield Academy in Massachusetts, both elite private institutions in the Bay State, lost their coveted Aaa rating from Moody's Investors Service after taking on new debt and increasing the leverage in their debt portfolios. The affirmation and upgrade come as the school is preparing to enter the market in last week of June with $50 million in Series 2003H variable-rate demand bonds backed by Amherst's ample self-liquidity. Following the upcoming sale, the college will be providing liquidity support for $92.2 million in variable-rate demand debt.


Related Articles

  • Illinois Tips the Scales; Pennsylvania, MassPort Bank on Scarcity. Albano, Christine // Bond Buyer;5/19/2003, Vol. 344 Issue 31638, p7 

    The article focuses on bond deals in Illinois and Pennsylvania as of May 19, 2003. Illinois plans to sell $1.5 billion of competitive cash-flow notes to finance overdue bills owed on corporate and personal income taxes and to Medicaid provider. Moody's Investors Service downgraded Illinois'...

  • U.S. rating agencies: European firm's N.Y.C. outlook based on misconceptions. Roy, Elizabeth // Bond Buyer;07/14/97, Vol. 321 Issue 30186, p3 

    Focuses on the reaction of Moody's Investors Service and Standard & Poor's to the credit comment of IBCA Limited of London explaining the agency's decision to award New York City an A rating. Highlights of the IBCA comment on the rating; Arguments raised by the two credit rating agencies...

  • S&P, Moody's announce credit-rating updates. Pallarito, Karen // Modern Healthcare;9/11/95, Vol. 25 Issue 37, p24 

    Reports on credit rating developments for hospitals in the United States from Standard & Poor's Corp. and Moody's Investors Service as of September 11, 1995. Includes news on the placement of the credit rating of Palm Beach, California's Desert Hospital District on `CreditWatch'; Downgrading of...

  • Rating agencies give Illinois a lift. Ward, Andrew // Bond Buyer;07/21/97, Vol. 321 Issue 30191, p3 

    Reports on the upward revision of Illinois' credit ratings by Standard & Poor's and Moody's Investors Service as the state prepares for a general obligation bond sale on July 22, 1997. Attribution of upgrades to the state's strong economy; Decline in Illinois' budget deficit; Intended uses for...

  • Oakland County retains its AAA credit rating. Hogue, Leslie // Crain's Detroit Business;02/22/99, Vol. 15 Issue 8, p24 

    Focuses on the factors that help Oakland County to retain its AAA credit rating from Standard & Poor's Corp. and Moody's Investors Service Inc. Low debt levels; Above-average wealth; Growth of cash surplus.

  • CDO Pros Poached from Rating Agencies. Gregory, Michael // Bank Loan Report;08/14/2000, Vol. 15 Issue 33, p1 

    Focuses on the collateralized debt obligation (CDO) groups of Standard & Poor's (S&P) and Moody's Investors Service. CDO professionals lost by S&P and Moody's; Plan of HarbourView to launch HarbourView CBO III; Previous CDO of HarborView.

  • Heavy debt, rising costs hurting city, report says. Stuart // New Orleans CityBusiness (1994 to 2008);09/20/99, Vol. 20 Issue 13, p1 

    Focuses on credit rating agency Moody's Investor Service's report on the debt status of New Orleans, Louisiana. Examination of the strengths and weaknesses present in the city's economy and finances; Stable outlook for credit ratings of bonds issued by the city; Factors that tempered the...

  • S&P Places LIPA on Negative CreditWatch. McKaig, Ryan // Bond Buyer;12/12/2002, Vol. 342 Issue 31531, p36 

    Reports on the placement of Long Island Power Authority (LIPA) on negative CreditWatch by credit rating agency Standard & Poor's Corp. Ratings issued to LIPA by credit rating agencies Fitch Ratings Inc. and Moody's Investors Service Inc.; Reasons for negative rating of LIPA; Potential impact of...

  • Ratings firms see fewer downgrades. Jaklevic, Mary Chris // Modern Healthcare;01/29/2001, Vol. 31 Issue 5, p17 

    Reports on the prediction of Moody's Investors Service and Standard & Poor's regarding the credit ratings of not-for-profit hospitals in the United States by the end of 2001. Moody's outlook for the for-profit hospital sector; Downgrades in the not-for-profit sector in 2000.


Read the Article


Sign out of this library

Other Topics