November 21, 2003
Bond-Rating Update
Previous bond-rating updatesThe following institutions had their bond ratings upgraded or downgraded during October 2003. Ratings, which reflect the relative financial strength of institutions, help determine their cost of borrowing.
- Arizona State University, by Moody's Investors Service, from A1 to Aa3, and by Standard & Poor's, from A+ to AA-. The Moody's rating applies to $372-million in new and
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