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Allegheny County Higher Education Building Authority, Pennsylvania Waynesburg University; Private Coll/Univ - General Obligation
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
Standard & Poor's Ratings Services has raised its rating to 'BBB+' from 'BBB' on Allegheny County Higher Education Building Authority, Pa.'s revenue bonds, issued for Waynesburg University. The outlook remains stable. The upgrade reflects our view of Waynesburg University's long history of good operating performance, maintenance of stable operating surpluses through the recent recession, as well as balance sheet resources that are more in line with other 'BBB+' rated universities rather than 'BBB'. In addition, enrollment and demand have improved, as indicated by an improved acceptance rate and slightly higher student quality. The rating reflects our assessment of the university's: Strong operating performance reflected by a history of operating surpluses; Financial resources that are more in line with a 'BBB+'...
Companies mentioned in this report are: Waynesburg Univ,Allegheny Cnty Hgr Ed Bldg Auth
Action: Upgraded
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