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S&P rates Rice University, Texas, bonds AAA/A-1+
Standard & Poor's said it assigned an AAA/A-1+ rating to the Houston Higher Education Finance Corp.'s $100 million series 2008A revenue bonds and $100 million series 2008B revenue bonds, issued for Rice University.
The agency affirmed the AAA rating on outstanding bonds and A-1+ rating on Rice University's $100 million commercial paper program.
The outlook is stable.
Proceeds of the series 2008 bonds will be used to finance major capital projects, including a Collaborative Research Center and two new residential colleges on campus, and to refund a portion of the university's outstanding CP notes.
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