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Article: Fitch Downgrades Roosevelt University Illinois to 'BBB+'.
- Article from:
- Biotech Week
- Article date:
- November 4, 2009
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Fitch Ratings has assigned a 'BBB+' rating to approximately $184.2 million Illinois Finance Authority (the authority) revenue and refunding bonds, series 2009, to be issued on behalf of Roosevelt University (Roosevelt). Simultaneously, Fitch has downgraded to 'BBB+' from 'A-' its rating on approximately $45.5 million of Roosevelt's outstanding parity debt revenue bonds. The fixed-rate series 2009 bonds are expected to price via negotiation on or about Nov. 5, 2009. Proceeds will be primarily used to finance the construction of a 32-story facility on Roosevelt's main Chicago campus (the project), refund all of the university's outstanding variable-rate debt (approximately ...