Fitch Ratings has affirmed its AAA rating on $92.8 million of Series 2003 variable-rate demand bonds and $101 million of Series 2002 VRDBs issued by the New Hampshire Health and Education Facilities Authority.
The bonds were issued on behalf of Dartmouth College, an Ivy League school founded in 1769. The rating outlook is stable.
“Dartmouth’s prestigious reputation for academic excellence, demonstrated by strong student demand and highly selective admissions criteria, continue to underpin its AAA rating,” Fitch analysts said in a report.
Other key rating drivers include considerable financial flexibility and notable operating improvement.
Dartmouth, located in Hanover, N.H., is the ninth-oldest college in the United States.