Missouri Western State University, Missouri; Public Coll/Univ - Unlimited Student Fees Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services affirmed its 'A-' long-term rating and underlying rating (SPUR) on Missouri Western State University, Mo.'s (MWSU) outstanding auxiliary revenue bonds. The outlook is stable. The rating reflects our view of MWSU's: Solid track record of positive auxiliary system operations; Broad revenue pledge from the auxiliary system, which includes mandatory fees levied in part to support debt service; Stable to growing full-time, undergraduate enrollment trends since at least the fall of 2004; and Positive financial operation on a cash-basis, although inconsistent operations on a full-accrual basis. Offsetting factors include our view of the university's: Challenging state funding environment, in which historically stable operating support from Missouri (AAA/Stable) has declined approximately 5% in fiscal 2011 and then...

Companies mentioned in this report are:
- Missouri Western St Univ
- Missouri

Action: Affirmed

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

- Missouri Western St Univ
- Missouri

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