New-York-based Fitch Ratings has assigned a “AA-” rating to a series of revenue bonds of the Worcester-based College of the Holy Cross.
The bonds are Massachusetts Development Finance Agency revenue bonds issued for 2007 on behalf of the college.
They include a $45 million bond and a $28.1 million bond, both of which are general obligation bonds to be used to fund capital projects in the school’s 2007-11 master plan, including the construction of a science facility.
The 2007 bonds are also expected to “refund substantially all” of the college’s $28.8 million in outstanding 1998 bonds.
Fitch said the AA- rating “reflects Holy Cross’s generally stable enrollment trends, strong demand indicators, significant balance sheet liquidity, and consistent operating performance.”
