S&P Global Ratings assigned its'A+'rating to Grand Valley State University (GVSU), Michigan's series 2026A general revenue bonds. At the same time, we affirmed our'A+'long-term rating and underlying rating (SPUR) on GVSU's general revenue bonds. In addition, we affirmed our'AA+/A-1'rating on GVSU's series 2008B general revenue bonds. The outlook, where applicable, is stable. The university is issuing approximately $103.1 million of series 2026A bonds to partially refund its series 2016A general revenue bonds and partially fund a 45,000 square foot addition to the L.V. Eberhard Center, as well as major renovations to the nine-story Eberhard Center tower. Total pro forma debt is $273.1 million, including $211.7 million in general revenue bonds, $16.8 million in variable-rate
