Standard&Poor's Ratings Services affirmed its 'A-' long-term rating and underlying rating (SPUR) on Missouri Southern State's University's $16.6 million series 2008 auxiliary enterprise system revenue bonds. The rating reflects a rebound in demand and enrollment for fall 2012 following a devastating tornado in Joplin that caused a decrease in headcount for fall 2011 and 2012. Moreover, the rating reflects maintenance of at least breakeven operating results through fiscal 2012, despite the impact of severe weather. The rating also reflects the university's: Continued solid support from the state of Missouri (AAA/Stable), representing the second-largest portion of university revenue (33%); and Moderate current debt service burden of 3.6% of fiscal 2012 expenses. Offsetting factors include: Decreasing total headcount enrollment in
