S&P gives A- to Fairfield University bonds

Standard & Poor's said it assigned an A- rating to Connecticut Health and Educational Facilities Authority's $105.9 million series 2008N bonds issued for Fairfield University.

S&P also affirmed its A- rating on the outstanding debt issued for Fairfield University by the authority, which will total $163 million after the new issue. The outlook is stable.

The series 2008N bonds will be issued as fixed-rate bonds with a 30-year maturity. The bonds will fully fund a debt service reserve fund and refund the series 2005 L-1 and L-2 bonds and pay termination costs of swaps on the bonds being refunded.

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