S&P Global Ratings affirmed its ‘A-’ long-term rating on the Philadelphia Authority for Industrial Development ’s series 2022 taxable bonds and series 2023 and 2025 tax-exempt revenue bonds, issued for Holy Family University (HFU). At the same time, S&P Global Ratings affirmed its'A-'issuer credit rating (ICR) on HFU. An ICR reflects the obligor's general creditworthiness. The outlook is stable. As of fiscal year-end (June 30) 2026, HFU had approximately $37.4 million in debt outstanding, including operating leases. The most recent bond issuance was the series 2025, issued to finance capital projects on campus, including the construction of a welcome center and field house, and renovations to the university’s nursing building. Gross revenue, which we consider equivalent to a
