Amend the bill, as and if amended, in SECTION 1, beginning on page 3, by striking items (10), (11), and (12) of Section 59-101-1320 and inserting:
/ (10) 'Well rated' means a public institution of higher learning (a) receiving AA+, AA, or AA- credit ratings from either Standard and Poor's Ratings Services or Fitch Ratings or Aa1, Aa2, or Aa3 ratings from Moody's Investors Service or (b) assigned that designation pursuant to Section 59-101-1415.
(11) 'Medium Rated' means a public institution of higher learning (a) receiving A+, A, or A- credit ratings from either Standard and Poor's Ratings Services or Fitch Ratings or A1, A2, or A3 ratings from Moody's Investors Service or (b) assigned that designation pursuant to Section 59-101-1415.
(12) 'Low or unrated' means a public institution of higher learning receiving (a) BBB+ or lower credit ratings from either Standard and Poor's Ratings Services or Fitch Ratings or Baa1 or lower rating from Moody's Investors Service or (b) a public institution of higher learning that has neither (i) received a credit rating from Standard and Poor's Ratings Services, Fitch Ratings or Moody's Investors Service in the past two years nor (ii) been assigned that designation pursuant to Section 59-101-1415. /
Amend further, as and if amended, in SECTION 1, page 8, and inserting after line 22:
/ Section 59-101-1415. A public institution of higher learning that has not received a credit rating from Standard and Poor's Ratings Services, Fitch Ratings, or Moody's Investors Service in the past two years may apply to the State Treasurer for a rating designation pursuant to this article. The State Treasurer may assign such rating designations using uniform criteria typically used in determinations and assessments of credit risk for public institutions of higher learning. The provisions of this section may be utilized only for the limited purposes of this article, and may not be utilized to supersede or as a substitute for any credit rating from Standard and Poor's Ratings Services, Fitch Ratings, or Moody's Investors Service. /
Renumber sections to conform.
Amend title to conform.