Northeastern Pennsylvania Hospital&Education Authority Wilkes University; Private Coll/Univ - General Obligation

S&P Global Ratings affirmed its 'BBB' long-term rating on the Northeastern Pennsylvania Hospital&Education Authority, Pa.'s series 2007, 2012, and 2016A, 2016B revenue bonds, issued for Wilkes University. The outlook is stable. We assessed the university's enterprise profile as strong, characterized by recent enrollment increases and good programmatic diversity. This is partly offset by our view of the university's limited demand profile, with weak selectivity and graduation and matriculation rates for the rating. We assessed the university's financial profile as adequate, with historical full-accrual operating surpluses posted due to its conservative budgeting despite a high reliance on student revenues. However, available resources continue to decline and remain below-average relative to rating category medians. When we combine the enterprise profile

...S&P Global Ratings affirmed its '###' long-term rating on the Northeastern Pennsylvania Hospital & Education Authority, Pa.'s series 2007, 2012, and 2016A, 2016B revenue bonds, issued for Wilkes University. The outlook is stable. We assessed the university's enterprise profile as strong, characterized by recent enrollment increases and good programmatic diversity. This is partly offset by our view of the university's limited demand profile, with weak selectivity and graduation and matriculation rates for the rating. We assessed the university's financial profile as adequate, with historical full-accrual operating surpluses posted due to its conservative budgeting despite a high reliance on student revenues. However, available resources continue to decline and remain below-average relative to rating category medians. When we combine the enterprise profile and the financial profile, we believe these credit factors lead to an indicative stand-alone credit profile of '###', and a final rating...

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