Missouri State University Bond Rating Outlook Revised To Stable From Positive On Increased Debt

NEW YORK (S&P Global Ratings) March 14, 2019--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 resources ratios that, with additional debt issued in the last two years, are more consistent with the rating and similarly rated peers," said S&P Global Ratings credit analyst Stephanie Wang. The enterprise profile also remains stable and more comparable with 'A+' rated peers. The stable outlook reflects S&P Global Ratings' expectation

...NEW YORK (S&P Global Ratings) March 14, 2019--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 resources ratios that, with additional debt issued in the last two years, are more consistent with the rating and similarly rated peers," said S&P Global Ratings credit analyst Stephanie Wang. The enterprise profile also remains stable and more comparable with 'A+' rated peers. The stable outlook reflects S&P Global Ratings' expectation that MSU will maintain a steady enrollment and demand profile, operating performance will remain at or near current levels on a full accrual basis, and available resource ratios will remain consistent...

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