Connecticut University Of Connecticut; General Obligation; General Obligation Equivalent Security; Public Coll/Univ - Unlimited Student Fees

S&P Global Ratings assigned its 'A+' long-term ratings to Connecticut's $281.9 million series 2020A general obligation (GO) bonds, issued for University of Connecticut (UConn), and affirmed its 'A+' rating on all of UConn's outstanding parity secured GO bond issues (multiple series). In addition, S&P Global Ratings affirmed its 'A+' long-term ratings on UConn's special obligation-student fee revenue (SO-SFR) bonds. Total debt on a pro forma basis affected by this rating action, inclusive of the current debt issuance, minor loans, and capitalized leases, at UConn's latest audited fiscal year ended June 30, 2019, is $2.21 billion. The outlook is stable for all issues. The series 2020A bonds issued pursuant to the state's University of Connecticut 2000 Act are referred to as

...we believe UConn has taken prudent steps to ensure the safety of its students, faculty, and staff while also remaining financially responsible. In March 2020, UConn transitioned to an online format for the remainder of the spring and summer 2020 sessions. Residence halls were closed to the majority of students, and UConn provided prorated refunds for housing and dining totaling about $5.5 million to students living on campus before the rise in the pandemic. In fall 2020, UConn resumed on-campus instruction and plans on not having students return to campus following the Thanksgiving break until mid-January of 2021. The classes presently offered are a mix of in-person and online. The university expects students to be back on campus Jan. 25, with no spring break later in the term. Total full-time-equivalent (FTE) enrollment for fall 2020 is 28,979, up 2.1% from 28,389 in fall 2019. Total international FTE enrollment represents 10.6% (3,078) of the total fall 2020 FTE enrollment, down 9.9%...

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