Moody's rates Columbia University, N.Y., bonds Aaa

Moody's Investors Service said it assigned an Aaa rating to Columbia University's $290 million of fixed-rate series 2008 A bonds to be issued through the Dormitory Authority of the State of New York.

Sale of the bonds is expected on April 9.

Moody's also said it affirmed the Aaa rating on the university's outstanding fixed-rate debt; the Aaa/VMIG1 on its variable-rate debt, all supported by self-liquidity; and the P-1 rating on the university's taxable and tax-exempt commercial paper programs.

The university has $1.4 billion of rated debt, including the current offering.

The outlook is stable.

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