March 7, 2003

Colleges Issue Record Volume of Bonds

By MARTIN VAN DER WERF

Colleges sold a record volume of bonds in 2002, even as the poorest among them headed deeper into financial danger, says a report from Moody's Investors Service Inc., a bond-rating company.

There were 277 new college bond issues rated by Moody's last year, with a total value of $14.1-billion, compared with 225 issues, totaling $12.9-billion, in 2001.

The agency sees a growing dichotomy: The outlook for public institutions and for large, wealthy private colleges is "stable," it

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