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News Release BOISE STATE NEWS RELEASE/February 13, 2009 Boise State University Receives High Marks from Moody's, Standards and Poor's Boise State University received high marks for stable fiscal health from two national financial ratings services. Standard and Poor’s Ratings Services assigned Boise State its A+ rating and Moody’s Investor Services reaffirmed the university’s A1 rating. The ratings are for the university’s $43.1 million Series 2009A general revenue bonds. The ratings come in anticipation of issuing bonds to build the Center for Environmental Science and Economic Development (CESED) building. In addition, bond proceeds will be used to replace retractable seating in the Taco Bell Arena and refund portions of outstanding bonds to achieve net savings of approximately $800,000. Favorable financial ratings earn Boise State a lower interest rate for bonds. “These ratings show that Boise State’s fundamental financial position is quite solid,” said Boise State President Bob Kustra. “While the current economic conditions are challenging, Boise State is well-positioned to weather them and continue its advancement as a metropolitan research university.” Both services listed several areas of strength for the university, including a sound fundamental marketing position as an urban university in a growing metropolitan area, long-term growth in student enrollment, a broad range of program offerings, a history of consistently favorable operating performance despite a volatile funding environment and growth in financial resources, with expendable financial resources nearly doubling since fiscal year 2004. “These reports confirm that the university’s financing plan to support our campus master plan is financially sound and proceeding according to plan,” said Stacy Pearson, vice president for finance and administration at Boise State. “This is positive news in the current economic environment and also considering that bonding insurance is no longer available to help shore up ratings.” -30- Media Contact: Kathleen Tuck, University Communications, (208) 426-3275, kathleentuck@boisestate.edu Boise State University is “The New U Rising” with record student enrollment, new academic buildings, additional degree programs and a growing research agenda. Learn more at www.boisestate.edu.
Last reviewed on Friday, February 13, 2009
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