DBRS confirms Simon Fraser

DBRS Ltd. said it confirmed the rating of Simon Fraser University at AA (low) with a stable trend.

Sound operating performance and a moderate and declining debt level coupled with a solid expendable resource base provide resilience to the credit, the agency said. The university posted a consolidated surplus of C$52.3 million in 2010-11, down slightly year-over-year but still higher than budgeted and solid relative to its peers, DBRS said.

Helped by solid enrolment growth over the year, Simon Fraser's debt burden fell to a relatively low C$6,556 per full-time equivalent from C$6,829 a year earlier, the agency said.

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