Fitch Ratings has assigned an 'AA+' rating to the following revenue bonds issued on behalf of Emory University, Georgia (EU):
--Dekalb County Development Authority (Emory University Project) Taxable Revenue Bonds, Series 1991;
--Dekalb County Development Authority (Emory University Project) Taxable Variable-Rate Revenue Bonds, Series 1994B, 1995B;
--Dekalb County Development Authority (Emory University Project) Taxable Revenue Bonds, Series 1994C;
--Private Colleges and Universities Authority, Emory University Revenue Bonds, Series 2001A, 2002A, 2005A, 2005C, 2008C, 2009B, 2009C, 2011A;
--Private Colleges and Universities Authority, Emory University Taxable Revenue Bonds, Series 2009A;
--Private Colleges and Universities Authority, Emory University Taxable Variable-Rate Revenue Bonds, Series 1999B;
--Private Colleges and Universities Authority, Emory University Variable Rate Revenue Bonds, Series 2005B;
--Private Colleges and Universities Authority, Student Loan Revenue Bonds, Series 1998B.
In addition, Fitch affirms the 'AA+' rating on the following Fulton County Development Authority (FCDA) revenue bonds:
--FCDA (Catholic Health East Issue) Health System Revenue Bonds, Series 2009, 2010;
--FCDA (Catholic Health East Issue) Health System Revenue Anticipation Certificates, Series 2007A .
The Rating Outlook is Stable.
For further information on EU, please see the press release dated Jan. 6, 2012, 'Fitch Upgrades Fulton County Dev Auth, GA's Ser 2007A, 2009 & 2010 Bonds to 'AA+' at 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'
In addition to the sources of information identified in the Revenue Supported Rating Criteria, this action was informed by information from Prager & Co., LLC. (Emory's financial advisor)
Applicable Criteria and Related Research:
--'Revenue Supported Rating Criteria' (June 20, 2011);
--'U.S. College and University Rating Criteria' (July 14, 2011).
Applicable Criteria and Related Research:
Revenue-Supported Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=637130
U.S. College and University Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=640830
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