Florida Higher Educational Facilities Financing Authority Ringling College of Art And Design Inc.; Private Coll/Univ - General Obligation

S&P Global Ratings has assigned its 'BBB+' long-term rating to the Florida Higher Educational Facilities Financing Authority's series 2017 educational facility revenue and refunding bonds, issued on behalf of Ringling College of Art And Design Inc. (RCAD). The outlook is stable. The rating and stable outlook reflect our assessment of the college's growing reputation as a college of creative studies and niche in an institution focused on film, animation, design and game design. The rating also reflects our view of the college's strong financial profile, characterized by consistently solid surplus operating performance on a generally accepted accounting principles basis and respectable enterprise profile with a growing enrollment and sound retention metrics. We assessed RCAD's enterprise profile as strong characterized by

...S&P Global Ratings has assigned its '###+' long-term rating to the Florida Higher Educational Facilities Financing Authority's series 2017 educational facility revenue and refunding bonds, issued on behalf of Ringling College of Art And Design Inc. (RCAD). The outlook is stable. The rating and stable outlook reflect our assessment of the college's growing reputation as a college of creative studies and niche in an institution focused on film, animation, design and game design. The rating also reflects our view of the college's strong financial profile, characterized by consistently solid surplus operating performance on a generally accepted accounting principles basis and respectable enterprise profile with a growing enrollment and sound retention metrics. We assessed RCAD's enterprise profile as strong characterized by growing enrollment, an improving demand profile, with moderate selectivity and matriculation rates for the rating. We assessed RCAD's financial profile as adequate, with...

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