September 12, 2003

Bond-Rating Update

By AUDREY WILLIAMS JUNE

The following institutions had their bond ratings upgraded or downgraded during August 2003. Ratings, which reflect the relative financial strength of institutions, help determine their cost of borrowing.

UPGRADES
  • Kalamazoo College, by Moody's Investors Service, from A2 to A1. Applies to $20.8-million in new and outstanding bonds. Reasons cited include expectations that

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