Summary: Maryland Health & Higher Educational Facilities Authority McLean School; Independent Schools Dec 11
- ID: 2035251
- December 2011
- Region: Maryland
- Standard & Poors
Standard & Poor's Ratings Services has revised its outlook to negative from stable and affirmed its 'BBB-' long-term rating on Maryland Health & Higher Educational Facilities Authority's series 2001 bonds issued for McLean School. The negative outlook reflects our view of the McLean School's continued declines in enrollment over the past five years, particularly in the lower and middle schools. The school's headcount has decreased nearly 25% to 375 students since its peak of 490 in fall 2006. Management states that although it has cut expenses to match the smaller enrollment in the past two fiscal years, it expects deficit operating performance in fiscal 2012 given the more significant enrollment decline in fall 2011. In addition, management states that if...
Companies mentioned in this report are:
- McLean Sch
- Maryland Hlth & Hgr Ed Facs Auth
Action: Outlook: Negative
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