...S&P Global Ratings revised its outlook to stable from positive and affirmed its 'A+' rating on Missouri State University's (MSU) series 2010B, 2014A, 2015A, and 2016A auxiliary enterprise revenue bonds. We also affirmed our 'A+' long-term rating on the university's series 2010B, 2014A, and 2015 bonds, issued by the Missouri Health & Educational Facilities Authority (MOHEFA). The revision to stable reflects available l resources ratios that, with additional debt issued in the last two years, are more consistent with the rating and similarly rated peers. The enterprise profile also remains stable and more comparable with 'A+' rated peers. We assessed MSU's enterprise profile as strong, characterized by a relatively stable enrollment and demand profile with solid management. We assessed MSU's financial profile as very strong, with healthy surpluses, good available resources for the rating, and reasonable maximum annual debt service (MADS) burden, which remains relatively unchanged even with...
