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Fitch Affirms University of Alabama's Revenue Bonds at 'AA-'; Outlook Stable
June 28th, 2009
Fitch Ratings affirms the unenhanced 'AA-' rating on approximately $278 million of outstanding general fee revenue bonds issued by the Board of Trustees of the University of Alabama (the board) on behalf of the University of Alabama (UA, or the university). The bonds are a general obligation of UA. The Rating Outlook is Stable.
The 'AA-' rating reflects UA's history of positive operations supported by a diverse and growing revenue base, solid liquidity, a manageable but growing debt burden, growing enrollment, and strong management. Primary credit concerns are the ongoing revenue pressures due to the current economic environment and UA's increasing debt...
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Source: Marketing Business Weekly (2009-06-28)