![]() | Board of Visitors minutes April 16, 2004 | ![]() |
6667
APPROVAL OF VARIABLE RATE DEBT POLICY
WHEREAS, variable rate debt has lower cost but higher risk than fixed rate debt; and
WHEREAS, the Board recognizes the importance of balancing risk and return; and
WHEREAS, it is the intent of the Board to preserve the University’s premier bond rating from Moody’s, Fitch and Standard & Poor’s, consistent with the University’s strategic objectives.
RESOLVED that the University’s variable rate debt will not comprise more than 40 percent of the total external debt portfolio of the University.
![]() | Board of Visitors minutes April 16, 2004 | ![]() |