MOODY'S ASSIGNS P-1 RATING TO THE MISSISSIPPI INSTITUTIONS OF HIGHER LEARNING'S $50.0 MILLION COMMERCIAL PAPER PROGRAM ISSUED BY THE MISSISSIPPI STATE UNIVERSITY EDUCATIONAL BUILDING CORPORATION; IHL OUTLOOK IS STABLE

Posted on: April 26, 2012, 6:57 pm

NEW YORK, April 26, 2012 --Moody's Investors Service has assigned a P-1 rating to Mississippi State University Educational Building Corporation's (MSUEBC) $50.0 million Commercial Paper Program (Series A Extendable Tax-Exempt and Series B Extendable Taxable). The program is for the benefit of Mississippi State University (MSU). The P-1 rating is only for the commercial paper program as extendable commercial paper and reflects the demonstrated market access of Mississippi Institutions of Higher Learning (IHL or "system") for long-term debt, commercial paper program structure looking to have commercial paper refunded by long-term debt issuance as well as allowing 180 days to remarket commercial paper extended from the original maturity date, and the favorable, stable credit characteristics of the system. The total program size is $50 million for total issuance of both Tax-Exempt and Taxable commercial paper, with an outstanding aggregate maximum of $50 million for both series...

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