University Of Chicago Series 2024A-C Bonds Rated 'AA-'; Outlook Is Stable - S&P Global Ratings’ Credit Research

University Of Chicago Series 2024A-C Bonds Rated 'AA-'; Outlook Is Stable

University Of Chicago Series 2024A-C Bonds Rated 'AA-'; Outlook Is Stable - S&P Global Ratings’ Credit Research
University Of Chicago Series 2024A-C Bonds Rated 'AA-'; Outlook Is Stable
Published Apr 26, 2024
2 pages (1257 words) — Published Apr 26, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

HARTFORD (S&P Global Ratings) April 26, 2024--S&P Global Ratings assigned its 'AA-' rating to the Illinois Finance Authority's $521.7 million series 2024A tax-exempt and $453.5 million series 2024C tax-exempt fixed rate bonds issued for the University of Chicago (UChicago) and the university's $403.2 million series 2024B taxable fixed rate bonds. S&P Global Ratings affirmed its 'AA-' ratings on various series of UChicago's bonds. S&P Global Ratings affirmed its 'AA-/A-1+' dual ratings and its 'A-1+' short-term rating on UChicago's existing debt and its commercial paper (CP) program. The outlook, where applicable, is stable. The 'A-1+' short-term self-liquidity rating on the university's $385 million in VRDBs and UChicago's authorized $200 million in taxable CP reflects the university's general obligation pledge, and its

  
Brief Excerpt:

...April 26, 2024 HARTFORD (S&P Global Ratings) April 26, 2024--S&P Global Ratings assigned its '##-' rating to the Illinois Finance Authority's $521.7 million series 2024A tax-exempt and $453.5 million series 2024C tax-exempt fixed rate bonds issued for the University of Chicago (UChicago) and the university's $403.2 million series 2024B taxable fixed rate bonds. S&P Global Ratings affirmed its '##-' ratings on various series of UChicago's bonds. S&P Global Ratings affirmed its '##-/A-1+' dual ratings and its 'A-1+' short-term rating on UChicago's existing debt and its commercial paper (CP) program. The outlook, where applicable, is stable. The 'A-1+' short-term self-liquidity rating on the university's $385 million in VRDBs and UChicago's authorized $200 million in taxable CP reflects the university's general obligation pledge, and its ability to meet tenders and any failed remarketing of its CP using internal liquidity. As of March 31, 2024, UChicago has ample same-day liquidity to provide...

  
Report Type:

Ratings Action

Issuer
University of Chicago
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "University Of Chicago Series 2024A-C Bonds Rated 'AA-'; Outlook Is Stable" Apr 26, 2024. Alacra Store. May 11, 2024. <http://www.alacrastore.com/s-and-p-credit-research/University-Of-Chicago-Series-2024A-C-Bonds-Rated-AA-Outlook-Is-Stable-3159192>
  
APA:
S&P Global Ratings’ Credit Research. (). University Of Chicago Series 2024A-C Bonds Rated 'AA-'; Outlook Is Stable Apr 26, 2024. New York, NY: Alacra Store. Retrieved May 11, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/University-Of-Chicago-Series-2024A-C-Bonds-Rated-AA-Outlook-Is-Stable-3159192>
  
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