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Moody's may upgrade UM bond rating to AAA.(University of Michigan's bond rating)(Brief Article)(Statistical Data Included)
Crain's Detroit Business, July, 2000 by Slavin, Al
Moody's Investors Service Inc. on Tuesday placed the University of Michigan's bond rating under review for a possible upgrade to a AAA rating. The bond-rating agency said the school's strong financial performance, fund-raising efforts and conservative debt strategy prompted the review. Lisa Martin, a senior vice president at Moody's, said the review might take three months.
If approved, the upgrade would affect $270 million worth of existing debt currently carried at a variable interest rate. ``Even though they are not buying our bonds, they are sending a very important message,'' said Robert Kasdin, UM's executive vice president and CFO. ``This is important to potential donors and taxpayers.'' Kasdin met with Moody's in December to review UM's debt...
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