S&P Global Ratings assigned its 'BBB-' long-term rating to Northeastern Illinois University Board of Trustees ' anticipated $52.6 million series 2025 certificates of participation (COPs), issued for Northeastern Illinois University (NEIU). At the same time, S&P Global Ratings affirmed its 'BBB-' rating on NEIU's outstanding unlimited student fee debt and certificates of participation (COPs). The outlook is stable. As of fiscal 2024 year-end, total debt outstanding equaled approximately $76 million, including around $11 million in series 2014 university facilities system (UFS) revenue bonds, approximately $27 million in COPs, around $36 million in privatized student housing debt, and about $2 million in leases. All university debt outstanding is structured as fixed-rate serial bonds. Under NEIU's existing debt profile, the university issues
