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Article: S&P Rates Niagara County IDA, N.Y./Niagara University Revenues BBB.
- Article from:
- PR Newswire
- Article date:
- October 9, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. 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, Oct. 9 /PRNewswire/ -- Standard & Poor's today assigned its triple-'B' underlying rating (SPUR) to Niagara County Industrial Development Agency, N.Y.'s revenue bonds series 1998A dated Oct. 15, 1998 due Oct. 1, 2023, issued for Niagara University. The bonds, which are expected to receive a triple-'A' rating based on AMBAC bond insurance, are scheduled to sell Oct. 15, 1998.
The rating reflects:
-- A solid balance sheet characterized by growing liquidity and light
debt,
-- Reasonable operating performance tempered by growing tuition discount
rates, and
-- An adequate demand profile.
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