Word: shorely
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...We’re focusing very intensively on where we can reduce the scale and pacing of our capital projects to match our new resources,” said Dan Shore, Harvard’s chief financial officer, in an interview last Friday. But he noted that even a “shrunken down” series of capital expenditures would remain sizable simply due to the University’s large size, and that as a result, “at some point during the next year or so we could be going to market again [for more debt...
...Shore said that debt has allowed Harvard to expand its campus in “programmatically critical” ways in the past, and that Harvard must now “carefully” manage and service that debt. According to the University’s recent financial report, Harvard’s principal payments on debt are expected to increase sharply over the next few years...
...Shore said that many of Harvard’s peers have asset-to-debt ratios that mirror the University’s current situation, and he noted that credit agencies have maintained Harvard’s ‘AAA’ rating despite the bond sales. Most elite institutions have also retained their top-notch credit ratings, although a number of other colleges did find themselves downgraded this year...
...objective still is maintaining our ‘AAA’ rating,” Shore said. “Before we take out any more debt we’d be in conversation with the ratings agencies to tell them our story and to make them comfortable...
Having taken to long, solitary swims in the unsuccessful attempt to forget Füsun, Kemal remembers that “Later, when I had swum back to shore and lay exhausted under the sun with my eyes closed, I would entertain the hopeful thought that all serious and honorable men who happened to fall passionately in love went through the same things as I did.” Like the anise-flavored raki that characters drink together to take refuge from their individual disappointments, “The Museum of Innocence” can be a bitter draught?...