...S&P Global Ratings affirmed its 'A' issuer credit rating (ICR) on DePaul University, Ill. At the same time, S&P Global Ratings affirmed its long-term rating on Illinois Finance Authority's revenue and revenue refunding bonds issued for DePaul University. Approximately $340.6 million of outstanding bonds as of DePaul's fiscal year ended June 30, 2017, are affected by this action (fiscal 2017 results are audited but subject to board acceptance and approval anticipated on Oct. 29, 2017). The outlook on the ICR and all rated issues is stable. We assessed DePaul's enterprise profile as strong, characterized by a sound market position and demand with total full-time equivalent (FTE) enrollment that exceeds 20,000 students drawn largely from Chicago, broad program offerings, robust regional competition and sound management and governance. We assessed DePaul's financial profile as strong, characterized by excellent financial management policies, healthy financial performance with recurring surpluses...
