Standard & Poor's Ratings Services said it raised its rating to BBB from BBB-minus on the California Municipal Finance Authority's series 2007 revenue bonds issued for the Berkeley Student Cooperative (BSC), which legally changed its name from University Students' Cooperative Association in May 2009.
The outlook is stable.
"The raised rating reflects our view of BSC's continued strong occupancy, debt service coverage, and operating surpluses," said Standard & Poor's credit analyst Carlotta Mills.
