UM's Triple-A

Carvlin, Elizabeth
February 2005
Bond Buyer;2/2/2005, Vol. 351 Issue 32062, p31
Trade Publication
This article informs that Standard & Poor's raised its rating to AAA from AA-plus on outstanding debt secured by the University of Michigan's general revenues as it prepares to bring about $90 million of new-money and refunding bonds to market. The revenues that secure the upgraded bonds include unlimited student fees, which constitute "the university's broadest and strongest pledge," analysts said. Standard & Poor's also upgraded bonds secured with more narrow system revenues to AA-plus from AA. The university backs some bonds with hospital, patient care, and housing revenues.


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