Tuesday, 30 March 2010

Ryde. University may sell bonds

Macquarie University said it may seek to sell bonds after receiving a first-time rating of Aa2 from Moody’s Investors Service. The university got the third-highest grade from Moody’s due to its “sound operating performance, positive liquidity level and strong market position,” and because the Australian government would likely offer financial support in a “crisis situation,” the ratings company said in a statement today. The university’s debt is forecast to peak at about A$357 million ($323 million) this year as it increases borrowings to help fund its capital program, according to Moody’s. “We are examining our financing options including the possibility of a bond sale.We should reach a decision in the next month,” said Greg Welsh, the university’media manager, in the Bloomberg BusinessWeek.

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