S&P Global Ratings assigned its 'A' long-term rating to the Public Building Authority of Florence (PEBA), Ala.'s $35 million series 2024 revenue bonds (UNA Athletic Facilities Project), issued for the 1830 Foundation (1830), a component unit of the University of North Alabama (UNA). At the same time, S&P Global Ratings affirmed its 'A' underlying and long-term ratings to UNA's existing general fee revenue bonds. The outlook is stable. The series 2024 bonds are secured, through the UNA pledged bonds described below, by a parity pledge of UNA's general fees, which include all fees and charges for students enrolled at the university, including tuition and special course, registration, laboratory, and out-of-state fees. We view this as a broad pledge and consider
