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S&P ups Texas State University, rates bonds AA-
Standard & Poor's said it raised its underlying rating to AA- from A+ on the Texas State University System Board of Regents' outstanding revenue finance bonds and assigned that rating to the university's $218.295 million series 2008 revenue financing system revenue bonds. The outlook is stable.
The upgrade reflects the university's growing demand and consistently strong operating surpluses, S&P said.
Proceeds will be used for projects on the Sam Houston and TSU at San Marcos campuses as well as to refund a portion of the system's outstanding debt.
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