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Article: Fitch Rates Baylor University's (TX) Taxable CP Program 'F1+'.
- Article from:
- Business Wire
- Article date:
- December 2, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Fitch Ratings assigns an 'F1+' rating to Baylor University's (Baylor's, or the university's) $50 million taxable commercial paper (CP) program. Draws under the CP program will be used to finance or refinance various capital improvement plan (CIP) projects; redeem outstanding CP notes; fund CP note issuance costs; and reimburse Baylor for previous expenditures made in connection with the CIP or issuance of CP notes. CP notes are a general obligation of the university, with liquidity support for the program provided by Baylor's operating funds.
The 'F1+' rating reflects the availability of significant liquid resources available to cover maximum ...
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... ... commercial paper notes, series A (the CP notes). The affirmation is in connection with ... authorized maximum principal amount of CP notes that may be outstanding from $350,000 ... 22, 2005. The 'F1+' rating on the CP notes continues to be based on both the internal ...
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