LPRBLawyers Professional Responsibility
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However, Fitch notes that UC's coverage of LPRB related debt service based on pledged revenues has exceeded 3x for the past several years.
CREDIT STRENGTH OF UC: Underpinning the 'AA' rating on the LPRBs is the strong credit profile of UC in conjunction with the strength of the revenues pledged to LPRBs, which are derived primarily from the university's self-supported auxiliary enterprises and provide consistently healthy coverage of associated debt service.
Revenues pledged to LPRBs are included in UC's general revenues, which are pledged on a senior basis to GRB bondholders.