...+ S&P Global Ratings lowered its long-term rating on the Iowa Higher Education Loan Authority's revenue refunding bonds outstanding, issued for the University of Dubuque, to '###-' from '###'. + At the same time, S&P Global Ratings assigned its '###-' long-term rating to the authority's series 2025 private college facility revenue refunding bonds, issued for UD. + S&P Global Ratings also affirmed its 'SP-1' short-term rating on the university's 2024 revenue anticipation notes (RANs). + The outlook is stable. + The downgrade reflects our view of UD's continued enrollment declines and limited flexibility within its demand profile due to its smaller enrollment size, decreasing applications, and weak first-year selectivity. The downgrade also reflects our view of the risk associated with significant additional debt and a high pro forma debt burden, which we view as more consistent with the lower rating....
