S&P Global Ratings assigned its 'BBB' long-term rating on the Dormitory Authority of the State of New York 's (DASNY) series 2025 revenue bonds, issued for Iona University (Iona). S&P Global Ratings also affirmed its 'BBB' long-term rating on Iona?s series 2015A, 2021A, 2021B, and 2022 bonds, issued by DASNY and the New Rochelle Local Development Corp. , N.Y. The outlook is stable. The bonds are a general, unsecured obligation of the university. As of fiscal year-end June 30, 2024, the university had $109.2 million of total debt outstanding, including the rated bonds ($93.5 million), a direct-placement term loan ($8.4 million), operating leases ($2.9 million), and finance leases ($77,000). Iona plans to issue $74.9 million in series 2025 bonds including
