Word: crediteer
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Harvard is borrowing $480 million to refinance its debt and to fund capital projects on campus, including the construction of a new Harvard Law School building, according to a credit rating report released Friday by Moody's Investors Service...
Despite the new bond issuance—which brings the University's total outstanding debt to $6.5 billion—Harvard will maintain its top-notch 'AAA' credit rating from both Moody's and Standard and Poor's, another credit rating service...
...Available credit for the U.S. is receding and that's the economy's real lifeblood," says Christopher Whalen of research firm Institutional Risk Analytics. "This is a disaster...
...while the number of bank loans is falling, the well of credit for corporations is far from dry. In fact, the 22 largest banks in the Treasury's Troubled Asset Relief Program issued or renewed $127 billion in business loans in November, roughly the same as five months ago. And bank lending, now at $6.7 trillion, is at the same level it was at the end of 2007, when the economy was still expanding. That would be a problem if we had serious inflation. When asset prices rise and loan values don't, that can signal economic stagnation...
What's more, unlike the situation at the height of the credit crunch, corporations are able to raise money from investors. On Tuesday alone, corporations sold $23.5 billion in bonds, making it the second most active day in debt sales by companies on record. In 2009, corporations issued $712 billion in investment-grade bonds, up from $646 billion...