Holy Family University, PA's Various Series Revenue Bonds Assigned 'A-' Rating

CENTENNIAL (S&P Global Ratings) May 6, 2022-- S&P Global Ratings assigned its 'A-' rating to the Philadelphia Authority for Industrial Development, Pa.'s $2.9 million taxable series 2022 and $23.9 million tax-exempt series 2023 university revenue bonds, and to the Pennsylvania Higher Education Facilities Authority's $37.7 million series 2013A revenue bonds, all issued on behalf of Holy Family University (HFU). At the same time, S&P Global Ratings affirmed its 'A-' issuer credit rating (ICR) on HFU. An ICR reflects the obligor's general creditworthiness. The outlook is stable. The series 2022 and 2023 bonds will be used to refund the university's bonds and mortgage. "We assessed HFU's enterprise profile as strong, characterized by stable enrollment, solid retention, and moderate discounting, despite the

...May 6, 2022 CENTENNIAL (S&P Global Ratings) May 6, 2022-- S&P Global Ratings assigned its 'A-' rating to the Philadelphia Authority for Industrial Development, Pa.'s $2.9 million taxable series 2022 and $23.9 million tax-exempt series 2023 university revenue bonds, and to the Pennsylvania Higher Education Facilities Authority's $37.7 million series 2013A revenue bonds, all issued on behalf of Holy Family University (HFU). At the same time, S&P Global Ratings affirmed its 'A-' issuer credit rating (ICR) on HFU. An ICR reflects the obligor's general creditworthiness. The outlook is stable. The series 2022 and 2023 bonds will be used to refund the university's bonds and mortgage. "We assessed HFU's enterprise profile as strong, characterized by stable enrollment, solid retention, and moderate discounting, despite the university's location in a region with challenging demographics," said S&P Global Ratings credit analyst Megan Kearns. "We also assessed HFU's financial profile as strong, with...

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