S&P rates University of California Board of Regents bonds
Sept 13 (Reuters) - Standard & Poor's Ratings Services on Friday assigned various ratings to the University of California Board of Regents' bonds.
Double-A ratings were assigned to the university's $1.4 billion of 2013 series AI, series AJ taxable bonds, and $600 million series AK bonds.
S&P assigned its double-A/A-1-plus rating to $600 million series 2013 AL weekly variable rate demand bonds.
The proceeds of the series AI, AJ, AK, and AL bonds will be used to refinance all or a portion of the university's outstanding lease revenue bonds issued by the California State Public Works Board (SPWB) on behalf of the university, S&P said.