S&P rates University of Massachusetts revenue bonds 'AA-'
March 1 (Reuters) - Standard & Poor's Ratings Services on Friday assigned the University of Massachusetts System's University of Massachusetts Building Authority revenue bonds its AA-minus long-term rating.
S&P said the rating reflects support of the systems debt from the Commonwealth of Massachusetts and growing enrollment.
The bond issue includes $198.4 million of series 2013-1 tax-exempt revenue bonds, and $71.7 million of series 2013-2 taxable fixed-rated revenue bonds, which are expected to be priced during the week of March 4.
At the same time, S&P affirmed the building authority's AA-minus long-term rating and underlying rating on previously issued revenue bonds.