S&P Global Ratings affirmed its 'A-' long-term rating on the Indiana Finance Authority 's educational facilities revenue bonds issued for Butler University , Ind. (BU, Butler, or the university). The outlook is stable. CHICAGO (S&P Global Ratings) March 24, 2025--S&P Global Ratings today took the rating actions listed above. We analyzed the university's environmental, social, and governance (ESG) credit factors pertaining to its market position, management and governance, and financial performance. We believe Butler is exposed to some elevated social risk due to changing demographics, with fewer high school graduates expected in the region over the next several years; however, this is partially mitigated by the university's geographic diversity. All environmental and governance factors are neutral in our credit rating
