Moody's assigns A2 to Creighton University bonds

Moody's Investors Service said it assigned an A2 underlying rating to Creighton University's $105 million series 2008 adjustable-rate revenue and refunding bonds to be issued through the Nebraska Educational Finance Authority.

The 2008 bonds will initially be issued in a daily mode and will be supported by a letter of credit provided by JPMorgan Chase Bank NA. Moody's expects to assign a rating to the bonds based on the letter of credit.

The expected sale date is July 30.

Proceeds will be used to refund the university's series 2003 and 2005C insured variable-rate demand bonds and its series 2005 auction-rate bonds.

Moody's affirmed Creighton University's A2 and A2/VMIG1 ratings on a combined $156.5 million of rated debt. The outlook remains stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.