University of California Board of Regents; Auxiliary - System; CP; Public Coll/Univ - Limited Student Fees; Public Coll/Univ - Unlimited Student Fees Feb 13
- Language: English
- Published: February 2013
- Region: California
Standard & Poor's Ratings Services has affirmed its 'BBB+' rating on Virginia College Building Authority's revenue bonds issued for Regent University. The outlook is stable. While we consider Regent's historically poor operating performance a negative credit factor, the university has increased enrollment over the past three years and is focusing on growing its net tuition revenue base while maintaining discipline regarding expenditures. Furthermore, given the growth in enrollment and revenue base, management has been able to decrease the historically high level of endowment spending to a more normalized rate, at slightly more than 5% in fiscal 2011, or a $10.5 million draw, compared with $15 million, or an approximately 6.5% draw in fiscal 2010. Regent had posted operating deficits ranging...
Companies mentioned in this report are: Regent Univ
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >