Standard & Poor's Ratings Services affirmed its 'BBB-' long-term rating on Oklahoma Development Finance Authority's series 2006 student housing revenue bonds outstanding, issued on behalf of Seminole State College. The outlook is stable. The rating reflects the housing system's very good occupancy levels, as well as stability in the college's overall full-time enrollment (FTE). The college's financial profile remains a credit weakness, in our opinion, with its weak balance sheet and only adequate operations for the rating. The rating reflects our view of the college's: Very limited balance sheet (as with most Oklahoma community colleges), with adjusted unrestricted net assets (inclusive of debt service reserve funds) in fiscal 2012 of $1.9 million, equal to 3.9% of operations and 9.2% of...
Companies mentioned in this report are:
- Seminole St Coll
- Oklahoma Dev Fin Auth
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