Holy Family University, Pennsylvania; Private Coll/Univ - General Obligation

S&P Global Ratings assigned its 'A-' issuer credit rating (ICR) to Holy Family University (HFU), Pa. The outlook is stable. An ICR reflects the obligor's general creditworthiness. The rating is not specific to a given debt issue as it does not consider the security and other credit and legal characteristics for a given debt issue. As of June 30, 2021, HFU had $29.8 million in outstanding debt. The university's debt includes the outstanding series 2013 bonds, a mortgage of $3.0 million, and a nominal amount of capital leases. The series 2013 bonds are secured by a lien on and security interest in the university's unrestricted gross revenues and the university's land and buildings. The university also has operating leases with

...S&P Global Ratings assigned its 'A-' issuer credit rating (ICR) to Holy Family University (HFU), Pa. The outlook is stable. An ICR reflects the obligor's general creditworthiness. The rating is not specific to a given debt issue as it does not consider the security and other credit and legal characteristics for a given debt issue. As of June 30, 2021, HFU had $29.8 million in outstanding debt. The university's debt includes the outstanding series 2013 bonds, a mortgage of $3.0 million, and a nominal amount of capital leases. The series 2013 bonds are secured by a lien on and security interest in the university's unrestricted gross revenues and the university's land and buildings. The university also has operating leases with a nominal present value, which we do not include in our debt metrics. We understand management is planning to refinance the university's debt within the outlook period, but we do not expect additional debt. In order to control the spread of COVID-19, in fall 2021, HFU...

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