John Clarkson, deputy director for fiscal research and policy analysis in the comptroller's office, said that the university could not continue to roll the obligation over year after year.
But after Lehman collapsed, Depfa was no longer able to roll over its obligations by borrowing on international money markets.
The move is the latest attempt by Denmark's centre-right government to roll back its obligations to refugees.
The company says it is already exploring alternatives to roll over those obligations coming due in 2009.
(While spending is controlled by Congress in the budgetary process, raising the debt ceiling allows the government to borrow the money in financial markets needed to roll over government obligations).
Its economy minister, Roberto Lavagna, was in Washington last week to meet with I.M.F. officials and Treasury Secretary Paul O'Neill and make his case for why Argentina deserves new credits that would allow it to roll over its debt obligations for the next two years.
It may enable Russia to roll over its foreign currency obligations but will not do anything for the country's underlying economic problems.
This obligation diverts investment from where it is most needed to roll out the IP conversion.
Most companies, particularly those in the sub-investment grade, took advantage of two years of sustained low interest rates to roll over and refinance their debt obligations.
