...S&P Global Ratings' long-term rating on the Northeastern Pennsylvania Hospital & Education Authority, Pa.'s series 2012A, 2016A, 2016B revenue bonds, issued for Wilkes University is '###'. The outlook is stable. We assessed the university's enterprise profile as strong, characterized by stable management, and good programmatic diversity. This is partly offset by our view of the university's declining enrollment and 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 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 of '###'. The rating is...
